Amcor and NOVA Chemicals announce agreement to source mechanically recycled polyethylene

Amcor (NYSE: AMCR, ASX:AMC), a global leader in developing and producing responsible packaging solutions, today announced a Memorandum of Understanding (MOU) with leading sustainable polyethylene producer NOVA Chemicals Corporation (“NOVA Chemicals”) for the purchase of mechanically recycled polyethylene resin (rPE) for use in flexible packaging films. Increasing the use of rPE in flexible packaging applications is an important element of Amcor’s commitment to support packaging circularity.

The supply agreement would enable Amcor to purchase SYNDIGO™ rPE resin, manufactured at NOVA Chemicals’ first mechanical recycling facility in Connersville, Indiana, which is projected to be in operation as early as 2025. The recycling facility was announced in July as a significant expansion of NOVA Chemicals’ Circular Solutions business.

“This is an exciting opportunity for us to supplement our rPE supply in support of our target to achieve 30% recycled material usage across our global portfolio by 2030,” said Fred Stephan, president of Amcor Flexibles North America. “Incorporating rPE into flexible packaging films helps brand owners meet voluntary commitments on recycled content targets, reduce greenhouse gas emissions, and keep plastic waste in the economy and out of the environment.”
more at: https://www.amcor.com/media/news/amcor-nova-rpe

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Amcor Announces Full Year Results For the Year Ended 30 June 2017

Highlights - underlying earnings unless otherwise indicated(1)(2) •Profit after tax (PAT) of US$701.2 million up 9.6%(3) on a constant currency basis; •Earnings per share (EPS) of 60.6 US cents, up 10.1%(3) on a constant currency basis; •Strong returns, measured as profit before interest and tax to average funds employed of 20.4%; •Strong free cash flow of US$245.3 million(4); and •Annual dividend per share increased to 43.0 US cents. Click Read More below for additional detail.
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