Pact Group has announced the completed acquisition of Flight Plastics, adding the ability to produce up to 5,000 tonnes a year of recycled PET trays and containers a year.
“The acquisition of Flight is strongly aligned to our strategy. We are investing across our platform to develop the recycling capability our customers will need to deliver their 2025 sustainability commitments,” said Sanjay Dayal, Pact’s CEO and managing director.
“We have capability not only to recycle plastics, but also to create demand for recycled materials through innovative packaging design and manufacture. Flight strongly compliments and enhances our platform.”
Pact announced an agreement to purchase Flight in August last year.
Flight was the first company in New Zealand to invest in recycling of PET waste for its products.
The ASX-listed Pact is one of Australia’s biggest packaging companies, and employs over 6,000.
Pact has a stated goal of using 30 per cent recycled content by 2025.
Last year it made announcements including a commitment to build a 28,000 tonne/annum joint venture plastic pelletising plant with Cleanaway Waste Management and Asahi Beverages in Albury/Wodonga.
Construction of the plant is underway and it is scheduled to open by October.
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