MINNETONKA and CIRCLE PINES, Minn., December 2, 2014 – NatureWorks and Northern Technologies International Corporation (Nasdaq: NTIC) announced today the companies are collaborating on marketing and sales of Ingeo™ in India and surrounding countries, including Bangladesh, Pakistan, and Sri Lanka. This is the first major sales initiative on the Indian subcontinent for Ingeo, a naturally advanced bioplastic with a host of commercial uses including rigid and flexible packaging, food serviceware, personal care products, textiles, in-home durable products, appliances and electronics, and the latest innovations in 3D printing.
Ingeo products from Natur-Tec
Natur-Tec India Pvt. Ltd., a subsidiary of Northern Technologies International, is leading the marketing and sales effort in India and the subcontinent. Northern Technologies has been manufacturing and marketing a range of biobased and compostable flexible films, rigid injection molded materials, and engineered plastics in India since 2006, initially through a joint-venture and since 2013 through the subsidiary. Under this new agreement, NatureWorks is supporting Natur-Tec India’s sales efforts by participating in joint sales meetings with multi-national corporations, providing technical expertise and marketing support, and supplying resin in bulk for distribution by Natur-Tec India.
Initial sales and market development emphasis are focused on flexible films for packaging such items as food and branded consumer goods, paper-based packaging where a thin film of Ingeo provides barrier properties, rigid containers for such products as yogurt, and food serviceware. Natur-Tec and NatureWorks will also be working with regulatory agencies on waste reduction demonstration projects.
“Success in a market as diverse and complex as India requires finding the right commercial partner – a partner that knows the market and our Ingeo products, has the respect of local customers, and shares similar values to your own,” said Rich Weber, Asia-Pacific Commercial Director, NatureWorks. “NatureWorks has worked with Northern Technologies International for years in North America. We know and respect the management team, and see this new multifaceted collaboration with Natur-Tec India as an extremely positive commercial development.”
“I agree with Rich,” said Vineet Dalal, Vice President and Director of Global Market Development for Northern Technologies International. “Natur-Tec India’s product and market knowledge in close collaboration with NatureWorks’ technical and commercial support sends a very positive message to customers that they will receive innovative products and an exemplary support infrastructure.”
NatureWorks LLC is a company dedicated to meeting the world’s needs today without compromising the earth’s ability to meet the needs of tomorrow. NatureWorks LLC is the first company to offer a family of commercially available, naturally advanced low-carbon-footprint Ingeo™ lactides and biopolymers derived from abundant local resources with performance and economics that compete with oil-based intermediates, plastics, and fibers, and provide brand owners new cradle-to-cradle options after the use of their products. NatureWorks is jointly owned by Thailand’s largest chemical producer, PTT Global Chemical, and Cargill, which provides food, agriculture, financial and industrial products and services to the world. For general information on NatureWorks and Ingeo, visit www.natureworksllc.com.
About Northern Technologies International Corporation
Northern Technologies International Corporation develops and markets proprietary environmentally beneficial products and technical services either directly or via a network of subsidiaries, joint ventures and independent distributors in over 50 countries. NTIC’s Natur-Tec® branded products are engineered using proprietary and patented blend of biodegradable polymers and natural materials to create biobased (renewable resource based) and certified compostable plastics. The broad Natur-Tec bioplastics portfolio spans flexible film, foam, rigid injection molded materials and engineered plastics. By using Natur-Tec products as an alternative to conventional plastics, industry and consumers are able to reduce their carbon footprint and move towards a zero carbon or carbon neutral footprint. It also provides for environmentally responsible and sustainable end-of-life solutions.