Zotefoams PLC Acquisition of the assets and IP of Refour ApS
09 Noviembre 2022 - 1:00AM
RNS Non-Regulatory
TIDMZTF
Zotefoams PLC
09 November 2022
Zotefoams plc
("Zotefoams" or the "Group")
Acquisition of the assets and intellectual property of Refour
ApS
Zotefoams plc, the UK-headquartered specialist in advanced
cellular materials, has today completed the acquisition of the
assets and intellectual property of Refour ApS (Skandeborg,
Denmark) ("Refour") for a modest cash consideration. In addition,
Torben Andersen, Refour CEO, will join the Zotefoams team.
Zotefoams, through its MuCell Extrusion (MEL) subsidiary, is in
the advanced stages of developing fully recyclable mono-materials
based on proprietary foaming technology. The addition of Refour's
knowledge, technology and equipment will accelerate this
development across a wide variety of applications such as barrier
technology cartons and pouches, as well as trays and cups.
Zotefoams' ReZorce(R) mono-material packaging offers brand
owners and packaging suppliers a much-needed alternative to
composite packaging, which does not meet increasingly stringent
mandates on recycled content and recyclability of packaging
materials. Combining the companies' portfolios will offer a wide
choice of recyclable packaging using foaming technology to reduce
costs and material content in HDPE, PP and PET - the main polymers
used in food and beverage packaging.
Zotefoams has focused initial development efforts for ReZorce on
delivering a mono-material alternative to the existing "liquid
packaging board" ("LPB") beverage carton, of which an estimated 250
billion are used annually. Commercial-scale trials of ReZorce
cartons are planned shortly while trials for other packaging
formats, such as pouches, are expected to follow thereafter.
Refour's focus on other materials and formats complements the work
done by Zotefoams and will increase material and application
choices for customers.
David Stirling, Group CEO of Zotefoams plc, said, "Brand owners
and packaging suppliers urgently need solutions that reduce waste
and increase recycling in packaging, and we expect significant
demand for proven technologies. Zotefoams and Refour have been
following parallel paths in the development of mono-material
barrier packaging but with a similar ethos; combining forces at
this point, and in particular welcoming Torben to the team, will
allow us to accelerate efforts and broaden our offering for
customers whose current packaging is not fit for the future."
Torben Andersen, CEO of Refour, commented, "The circular economy
is key to reducing the environmental impact of packaging and
current composite materials fall a long way short in this regard.
Mono-materials produced from common polymers are an attractive
alternative for brand owners, with the added advantage that no
specialist recycling is required. Working with the Zotefoams team,
I look forward to making this a reality, helping manufacturers meet
their obligations and reducing the waste and energy impact of
common pack formats."
- Ends -
Enquiries:
Zotefoams plc +44 (0) 208 664 1600
David Stirling, Group CEO
IFC Advisory +44 (0) 203 934 6630
Graham Herring
Tim Metcalfe
Zach Cohen
About Zotefoams plc
Zotefoams plc (LSE - ZTF) is a world leader in cellular
materials technology delivering optimal material solutions for the
benefit of society. Utilising a variety of unique manufacturing
processes, including environmentally friendly nitrogen expansion
for lightweight AZOTE(R) polyolefin and ZOTEK(R) high-performance
foams, Zotefoams sells to diverse markets worldwide. Zotefoams uses
its own cellular materials to manufacture T-FIT(R) advanced
insulation for demanding industrial markets. Zotefoams also owns
and licenses patented microcellular foam technology to reduce
plastic use in extrusion applications and for ReZorce(R)
mono-material recyclable barrier packaging.
Zotefoams is headquartered in Croydon, UK, with additional
manufacturing sites in Brzeg, Poland and Kentucky, USA (foam
manufacture) Oklahoma, USA (foam products manufacture and
conversion), Massachusetts, USA (MuCell Extrusion) and Jiangsu
Province, China (T-FIT).
www.zotefoams.com
AZOTE(R) , ZOTEK(R) , ReZorce(R) and T-FIT(R) are registered
trademarks of Zotefoams plc.
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