Mondi Group has signed an agreement for the sale of its recycled containerboard mill and related recycling operations located in Raubling, Germany, to the Heinzel Group for an enterprise value of €25 million on a debt and cash free basis.
The transaction remains subject to competition clearance and is expected to complete by the end of 2015.
The sale enables Mondi to focus on the development of its core containerboard operations in line with its strategy.
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.