Minnetonka, Minn.-based NatureWorks LLC reports it has received a $150 million investment from
Thailand-based PTT Chemical Public Co. Ltd. toward the construction of an Ingeo™ plant in Thailand.
The plant would be NatureWorks’ second production facility for the biopolymer, which is used in
various fiber and plastic products including apparel, home textiles, hygiene products, packaging
and food service-ware. Current plans have the plant entering production sometime in 2015.
“This is a significant investment by a leading chemical company, which will allow
NatureWorks to continue its aggressive growth while expanding its capacity to meet global demand
for bio-based products,” said Marc Verbruggen, president and CEO, NatureWorks. “PTT Chemical’s
investment demonstrates a significant milestone in moving Ingeo bio-based plastics and fibers to
the polymer mainstream.”
“NatureWorks is currently the forefront producer of bio-based products with commercially
viable production volumes, competitive costing and a global customer base,” said Veerasak
Kositpaisal, president and CEO, PTT Chemical. “Our investment in the company and its Ingeo
technology platform for plastics and fibers is in line with our long-term strategic green growth
and diversification objectives.”
“The Thai government encourages an investment in green chemicals, and particularly
bioplastics, which have high growth potential in the Southeast Asian market,” said Pichai
Naripthaphan, Thailand’s minister of energy H.E. “By attracting what could be the most advanced
biopolymer processing plant in the world to Thailand, PTT Chemical has made a significant step in
achieving Thailand’s strategic objectives of becoming a regional hub for green technologies and
solutions.”
October/November/December 2011