Naturally Iowa, Inc. Enters Final Stages of Acquisition of PLA Supply Company
With oil prices approaching $100 per barrel, Naturally Iowa's acquisition of PLA Supply Company is even more relevant today than when the two companies began working together several years ago.
28/11/07 Naturally Iowa, Inc. announced that it is in the final stages of the planned acquisition of PLA Supply Company. "This is a giant step forward for Naturally Iowa", stated William Horner, President and CEO of Naturally Iowa, Inc. "This acquisition will secure our leadership position in pioneering innovative dairy containers derived from 100% annually renewable resources such as corn, as opposed to traditional petroleum based plastic products. With oil prices approaching $100 per barrel, Naturally Iowa's acquisition of PLA Supply Company is even more relevant today than when the two companies began working together several years ago. It is time that businesses in the U.S. looked very seriously at alternatives that are good for the earth."
"This acquisition also gives Naturally Iowa the opportunity to work with other dairy and beverage companies in providing them with sustainable bottles made from corn as well and providing them with preforms, blow molding equipment and the technology required to operate in their facilities," Horner continued. "Naturally Iowa is now the beneficiary of thousands of hours of research and development performed by PLA Supply Company, which allows us to take the corn starch resin from resin to fully IMS Approved bottle, allowing Naturally Iowa to be a worldwide leader in renewable packaging for dairy. We believe that this is an enormous potential revenue source for the Company, given the growing consumer interest in sustainable packaging. With the acquisition of 100% of the assets of PLA Supply Company, Naturally Iowa, Inc. will acquire all rights to the PLA Supply Company contract with Natureworks LLC, a dedicated factory space in Waverly, Nebraska for the production of PLA preforms, and a long-term contractual relationship with Norland International to supply PLA bottle-blowing equipment to other beverage producers. As consumer demand increases for environmentally-friendly, sustainable packaging in the dairy industry, Naturally Iowa will be uniquely well positioned to benefit from that trend."
