Dow, Lucro and Marico join forces to advance circular packaging solutions in India
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[
] 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)[
] 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
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