Berry, Peel Plastics, ExxonMobil Collaborate to use certified-circular content in Pet food packaging

Berry, Peel Plastics, ExxonMobil Collaborate to use certified-circular content in Pet food packaging

MOSCOW (MRC) -- Berry Global Group, Inc., Peel Plastic Products Ltd., and ExxonMobil are working together to integrate International Sustainability and Carbon Certificate (ISCC) PLUS certified-circular plastics into pet food packaging for household brand names, said Packworld.

The collaboration leverages ExxonMobil’s ExxtendTM technology for advanced recycling, which processes plastic waste and attributes it to new plastic for food-grade packaging through a mass balance approach.

“With the promise of advanced recycling, we can change what is traditionally considered waste and transform it into innovative products made to be remade – accelerating the shift to a circular economy,” said Wesley Porter, Business Development Director – Sustainability and Innovation, Berry Global. “Working across the plastics value chain to increase the use of recycled and certified-circular content helps keep precious resources in use instead of becoming waste in our environment.”

Advanced recycling technology helps capture the value of plastics that currently go unrecycled, like snack wrappers, food pouches, and plastic toys. Unlike other recycling technologies, the resulting circular plastics are identical to those made from conventional feedstock and can be used in contact-sensitive, food-grade packaging solutions.

“We’re committed to building a brighter future for plastic packaging and designing circularity into our solutions plays an integral role in doing so. We’re extremely excited to be at the forefront of this innovative approach, enabling us to offer circular packaging solutions to our partners in the pet food industry,” said Mark Liberman, VP Sales and Marketing for Peel Plastics.

Berry matched Peel Plastics’ desire for sustainability benefits across its Think Green portfolio using ExxonMobil’s Exxtend technology for advanced recycling. In addition to industry-leading access to certified-circular resins, Berry’s manufacturing expertise enables it to deliver plastic films that are ready for circular resin integration.

We remind, Berry Global Group, Inc. is the first plastic packaging manufacturer in Europe to supply The Coca-Cola Company with a lightweight, tethered closure for its carbonated soft drinks in PET (polyethylene terephthalate) bottles. Bolstered by the European Union (EU) Single-Use Plastics Directive, Berry’s new tethered closure for Coca-Cola is designed to remain intact with the bottle – making it less likely to be littered and more likely to be recycled.

BPCL to add petrochemical capacity at Bina refinery

BPCL to add petrochemical capacity at Bina refinery

MOSCOW (MRC) -- Bharat Petroleum Corp. Ltd. (BPCL) has approved a project to add petrochemical production capacity at its 7.8-million tonne/year (tpy) refinery at Bina, Madya Pradesh, India, said Ogi.

At a meeting of the company’s board on May 15, BPCL approved an investment of 490 billion rupees (nearly $6 billion) for an ethylene cracker project at the Bina refinery that, alongside a cracker, would include the addition of other downstream petrochemical plants as well as an expansion of the refinery, the operator said in separate regulatory filings to BSE Ltd. and the National Stock Exchange of India Ltd.

While the operator has yet to reveal further details regarding either the capacities and types of the proposed cracker and downstream units or the precise nature of the planned refinery expansion, BPCL told investors in a December 2022 presentation that it planned to invest 380 billion rupees to add about 2.8 million tpy of petrochemical production capacity to its refining operations between 2022-27.

We remind, Bharat Petroleum Corporation Limited (BPCL) is India’s second-largest government-owned downstream oil producer after ONGC. The company plans to set up 240-MW of renewable power capacity at Rs 600 crore this fiscal year. Sukhmal Jain, the Marketing Director of BPCL, said that the firm would soon build up solar and wind power facilities.

Air Products’ Board of Directors extends Seifi Ghasemi’s term as Chairman, President and Chief Executive Officer

Air Products’ Board of Directors extends Seifi Ghasemi’s term as Chairman, President and Chief Executive Officer

MOSCOW (MRC) -- Air Products’ Board of Directors today announced an amendment to the employment agreement with Air Products’ chairman, president and chief executive officer, Seifi Ghasemi, further extending his term, said the company.

The Company has entered into a new amended agreement that will initially extend Ghasemi’s employment term to September 30, 2028. On September 30, 2024 and each year thereafter, the contract term will automatically renew to be a five-year term unless either party terminates the agreement at the latest, four years ahead of its then expiration date.

Commenting on the Board’s action, Edward L. Monser, lead director, said, “Since becoming Air Products’ Chairman, President and Chief Executive Officer nearly nine years ago, Seifi has led the company’s transformation into the world’s most profitable industrial gases company. He is a model for creating shareholder value while building an inclusive culture where employees act with integrity, commitment and purpose. The Board’s action to extend Seifi’s employment agreement while maintaining our strong focus on his succession provides clarity and certainty for years to come and reflects our continued confidence in his ability to deliver.”

Ghasemi said, “It has been an honor and a privilege for me to work alongside the dedicated, talented and motivated team at Air Products. Working together over the past nine years, we have increased the market capitalization of Air Products from about $20 billion to more than $60 billion. Air Products has a tremendous growth strategy, underpinned by our core industrial gas business and by being the leader in the production and distribution of low- and zero-carbon hydrogen that will help to decarbonize the world. I do look forward to working with our outstanding team at Air Products to innovate, continue to serve our customers and create additional shareholder value for many years to come.”

We remind, the Board of Directors of Air Products declared a quarterly dividend of USD1.75 per share of common stock. The dividend is payable on August 14, 2023 to shareholders of record at the close of business on July 3, 2023.

Amcor announces intent to acquire Moda Systems

Amcor announces intent to acquire Moda Systems

MOSCOW (MRC) -- Amcor, a global leader in developing and producing responsible packaging solutions, announced that it has signed a definitive agreement to acquire Moda Systems, a leading manufacturer of state-of-the-art, automated protein packaging machines, said the company.

Based in New Zealand, privately-held Moda Systems designs, assembles, and supports innovative, high-performance modular vacuum packaging solutions for the meat, poultry, and dairy industries. The acquisition will complement Amcor’s existing strength in film, positioning the company to offer an end-to-end packaging solution that encompasses primary packaging, equipment, on-site technical service, and parts.

“This acquisition will enable Amcor to offer an exciting new option and choice in automated protein packaging, making us the only flexible packaging manufacturer to own a high-speed, rotary equipment solution for fresh meat,” said Amcor Flexibles North America (AFNA) President Fred Stephan. “Combined with our best-in-class film portfolio, we see great strategic value in adding Moda’s automation technology, and technical expertise and services, for a range of customizable format solutions beyond a standard shrink bag. This transaction will enable Amcor to further enhance our winning value proposition for our global protein processing customers."

Moda’s rotary vacuum system improves operational efficiencies for protein producers, enabling them to optimize labor, improve safety, and reduce waste. The system is designed for ease of use in connecting, operating, maintaining, and cleaning and improves throughput and quality. Combined with Amcor’s portfolio of meat, poultry, seafood, and cheese shrink packaging options, this new solution is expected to further enhance the value Amcor delivers to protein producers.

"We’re delighted to join forces with Amcor, an industry leader that shares our commitment to innovation and customer service and support,” said Moda Systems Founder and CEO Richard Newcombe. “Together, we will deliver innovative expertise at scale, with a mutual dedication to outperformance. Our complementary capabilities will accelerate Moda’s founding mission to offer the most advanced vacuum packaging solutions for our customers."

The acquisition is subject to customary closing conditions and is expected to be completed in the June 2023 quarter.

We remind, Amcor, a global leader in developing and producing responsible packaging solutions, today announced a joint research project agreement with Nfinite Nanotechnology Inc. to validate the use of Nfinite’s nanocoating technology to enhance both recyclable and compostable packaging.

Air Products declares quarterly dividend

Air Products declares quarterly dividend

MOSCOW (MRC) -- The Board of Directors of Air Products declared a quarterly dividend of USD1.75 per share of common stock, said the company.

The dividend is payable on August 14, 2023 to shareholders of record at the close of business on July 3, 2023.

We remind, Air Products has signed an agreement with Aers Energy Belgie to develop a multi-fuel, hydrogen refueling station for trucks. It will be located on a concession in the port of Zeebrugge, which Aers Energy Belgie has been awarded. Within this location, Aers will also operate a new secure truck stop, rest area, convenience store and restaurant.

Air Products is a world-leading industrial gases company in operation for over 80 years focused on serving energy, environmental, and emerging markets. The Company has two growth pillars driven by sustainability. Air Products’ base business provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, and food.