Cargill buys back Teijin’s NatureWorks fibre stake

US-based Cargill is taking over full ownership of NatureWorks LLC, which makes fibres from renewable sources such as corn, from Japanese synthetic fibre and chemicals group Teijin Limited.

Previously a 50-50 joint venture, NatureWorks is now an independent company wholly owned by Cargill.

The move is part of a general restructuring of Teijin’s portfolio in response to the global economic downturn.

NatureWorks, whose Ingeo branded fibres are used in a range of end-uses including apparel, had operated as a Cargill-Teijin joint venture since October 2007.