Ystrad Mynach sustainable packaging venture Transcend Packaging has joined forces with one of Japan’s biggest firms to exploit huge global opportunities being created as the market shifts from plastic to sustainable paper and fibre-based products.
As part of the strategic partnership ITOCHU Corporation, a leading global provider of pulp paper products with annual sales of $100bn, has invested $10m in the company, for an undisclosed equity stake, that will help deliver new paper and moulded fibre products. The investment marks the latest strategic expansion for Transcend Packaging as it looks to extend its reach into new markets from Asia to North America.
Both firms have the ambition to save billions of pieces of single-use plastic from landfill annually as brands move to enhance how their packaging performs at the end of their useful life. The partnership is also a significant milestone as ITOCHU increases its focus on the eco-friendly, wood-fibre-based material business.
