Arkema announces a project for the sale to INEOS of its 50% stake in Oxochimie, their oxo alcohols manufacturing joint venture, and the associated business.
Arkema produces oxo alcohols on the Lavéra site (France) in a 50/50 manufacturing joint venture with INEOS. These products are used in part for the production of the Group’s acrylic esters in Europe. They are also sold on the free market for annual sales of some 40 million euros.
As part of the program to divest €700 million sales, the Group announces the project to divest to INEOS its stake in Oxochimie, as well as the associated business. Furthermore, INEOS will continue to supply the Group’s acrylic esters units.
The project, due to be finalized early 2017, is subject to an information and consultation process of social work councils and approval of the relevant antitrust authorities.
The US State of New York is introducing two new bills to combat over-packaging, poor recycling rates and litter issues, including an Extended Producer Responsibility (EPR) program requiring companies such as McDonald’s and Amazon to pay for the cost of packaging disposal and recycling.
The new organization’s mission is to redesign the critical steps of the plastics sorting and recycling system for post-consumer lightweight packaging (LWP) to speed up circularity, born from a need to meet the rising market demand for high-quality recyclates for use in high-end plastic applications.
Starbucks and Hubbub have launched a £1 million (US$1.22 million) “Bring It Back Fund” to increase the uptake of reusable packaging in the F&B industry. The funding will go toward innovative ideas that make it easier for customers to use alternatives to single-use packaging by supporting pilot projects that help shift consumption habits.