PR89056

MUMBAI, India, April 19, 2021 /PRNewswire=KYODO JBN/ --

The tripartite partnership further accelerates Dow's momentum in driving

sustainable packaging adoption of PCR in Asia Pacific

Dow (NYSE: DOW) and Lucro Plastecycle, a homegrown Indian recycling company,

welcome Marico Limited, one of India's leading consumer goods companies into a

tripartite partnership to introduce Dow's PCR-based coalition shrink films into

its line of consumer products. This alliance enables Dow to work towards

meeting its new sustainability target[

https://corporate.dow.com/en-us/science-and-sustainability/commits-to-reduce-emissions-and-waste.html

] of stopping waste by collecting 1 MMT of plastics to be collected, reused or

recycled by 2030.

Earlier this year, Dow and Lucro signed a memorandum of understanding (MoU)[

https://corporate.dow.com/en-us/news/press-releases/dow-and-lucro-launch-post-consumer-recycled-pcr.html

] to develop and launch polyethylene (PE) film solutions. Under the MoU, Dow

will utilize its industry leading team of packaging experts, material

scientists, recycling equipment, blown film manufacturing and testing

capabilities at Pack Studios Shanghai and Mumbai to help Lucro develop recycled

film for various applications.

With the addition of Marico Limited, this tripartite partnership forms part of

Dow's comprehensive strategy to enable a circular economy for plastics by

focusing on integrating recycled content into product offerings ensuring that

product's values are maximized and extended across its lifecycle from creation

to use to disposal.

"We are pleased to welcome Marico, a leading consumer goods company in the

health, beauty and wellness space, join us in partnership and leading the way

in India by offering circular packaging options through Dow's innovative resins

and Lucro's expertise as a high quality, innovative and recycled-content

flexible film manufacturer," said Bambang Candra, Asia Pacific commercial vice

president of Dow Packaging and Specialty Plastics. "This partnership places all

the valuable stakeholders along the road to sustainability with the aim to meet

market demands for brands seeking to use more recycled content in their

packaging."

Dow's virgin resins in combination with Lucro's PCR is aligned with Dow's

strategy of designing products for circularity and implementing recycling

solutions to provide new life for used plastics.

"Sustainability is a long-term commitment and a way of life at Marico. We are

constantly working towards making a difference by adopting every possible

measure that will propel us further along the road to secure a sustainable

future. Furthering our ongoing programs towards integrating circularity

principles in product packaging, this partnership with Dow is significant as it

enables us to use post-consumer recycled resin that helps reduce our carbon

footprint," said Jitendra Mahajan, chief operating officer – Supply Chain & IT,

Marico Limited.

"We have always been passionate advocates for recycling post-consumer waste and

believe that there is a lot of value that can be derived from it," said Ujwal

Desai, co-founder and managing director of Lucro. "Collectively between Dow,

Lucro, and Marico Limited, we are looking forward to supporting brands owners

in meeting their sustainability goals through the development of PCR-based

sustainable packaging solutions."

About Dow Packaging and Specialty Plastics

Packaging and Specialty Plastics (P&SP), a business unit of Dow (NYSE: DOW),

combines core strengths of R&D, worldwide reach, broad product lines and

industry expertise to deliver high performing technologies for end use markets

in food packaging, personal hygiene, infrastructure, consumer goods and

transportation. P&SP is one of the world's largest producers of polyethylene

resins, functional polymers, and adhesives, and enabled by Pack Studios, is a

leading innovator and collaborator across the value chain on sustainable

application development and circular economy life-cycle design for plastics.

www.dowpackaging.com

About Dow

Dow (NYSE: DOW) combines global breadth, asset integration and scale, focused

innovation and leading business positions to achieve profitable growth. The

Company's ambition is to become the most innovative, customer centric,

inclusive and sustainable materials science company, with a purpose to deliver

a sustainable future for the world through our materials science expertise and

collaboration with our partners. Dow's portfolio of plastics, industrial

intermediates, coatings and silicones businesses delivers a broad range of

differentiated science-based products and solutions for its customers in

high-growth market segments, such as packaging, infrastructure, mobility and

consumer care. Dow operates 106 manufacturing sites in 31 countries and employs

approximately 35,700 people. Dow delivered sales of approximately $39 billion

in 2020. References to Dow or the Company mean Dow Inc. and its subsidiaries.

For more information, please visit www.dow.com or follow @DowNewsroom on

Twitter.

About Lucro

Lucro Plastecycle Private Limited (Lucro) is a homegrown Indian recycling

company that harnesses the possibilities of plastic to produce high quality and

innovative recycled-content products. Established in 2012, the company is an

expert in recycling locally-sourced flexible plastic waste to manufacture

flexible packaging products, such as shrink wrap and films, and supplies

recycled plastic granules to manufacturers for their own production. By

developing a unique integrated process that covers the collection, sorting and

upcycling of used flexible plastic,

Lucro is committed to closing the loop in plastic usage by transforming it from

a linear to a circular economy and stopping it from reaching landfill. Today,

the company is the largest supplier of recycled packaging and protective covers

to leading national and international manufacturers in India across a range of

industries such as automotive, home and retail, to help them achieve their

sustainability goals. For more information, please visit www.lucro.in.

About Marico

Marico (BSE: 531642, NSE: "MARICO") is one of India's leading consumer products

companies, in the global beauty and wellness space. During 2019-20, Marico

recorded a turnover of about INR 73.1 billion (USD 1.03 billion) through its

products sold in India and chosen markets in Asia and Africa.

Marico touches the lives of 1 out of every 3 Indians, through its portfolio of

brands such as Parachute, Saffola, Saffola FITTIFY Gourmet, Saffola ImmuniVeda,

Saffola Arogyam, Saffola Mealmaker, Hair & Care, Parachute Advansed, Nihar

Naturals, Mediker, Kaya Youth O2, Coco Soul, Revive, Set Wet, Livon, Veggie

Clean, KeepSafe, Travel Protect, House Protect, Beardo. The international

consumer products portfolio contributes to about 23% of the Group's revenue,

with brands like Parachute, Parachute Advansed, HairCode, Fiancée, Caivil,

Hercules, Black Chic, Code 10, Ingwe, X-Men, Mediker SafeLife, Thuan Phat and

Isoplus.

SOURCE Dow Packaging and Specialty Plastics