Page 11 - Packaging News magazine November-December 2022

RAPID GROWTH
So, how did the group start and what is the secret of its swift and success- ful growth?
In December 2021, O F Packaging and Close the Loop joined forces to form the new entity Close the Loop Group and listed on the Australian Stock Exchange with the ticker “CLG”, with operations across Australia, Europe, South Africa and the United States,.
Shortly after listing, Close the Loop Group acquired Queensland- based seafood packaging operation Oceanic Agencies to boost its offering to the aquaculture market. Then, in February this year, it bought Sydney- based bulk packaging business Crasti & Co, supplier of flexible intermediate bulk containers (FIBCs) – large woven polypropylene bags – and other bulk packaging to food manufacturing, con- struction, and primary industries.
A month later it expanded its packag- ing operations in the US and European markets with the formation of Close the Loop Packaging, based in Kentucky and Belgium respectively, which will service
the customer network of the group’s resource recovery businesses on those two continents.
In July, the group
acquired thermal paper
supplier and sustainable
paper products group Alliance Paper (the largest and longest-serving supplier and converter of paper roll products in Australia) and announced it had commenced trials on making and printing paper-based flexible packaging.
That same month, the group’s Close the Loop division partnered with Myer to conduct an eight-week trial to recy- cle and reuse cosmetics packaging, with guidance provided by peak indus- try body Accord. With support from the Australian government’s National Product Stewardship Investment Fund, the group researched ways of recycling cosmetics to reduce the estimated 5000-11,500 tonnes of cosmetic pack- aging currently being sent to landfill in the country each year.
The group is also looking to support and encourage the use of reusable and recycled-content products across the supply chain. Also in July, the group became a distributor of Multitank, a nestable, food-grade certified and reus- able bulk container, made from recycled PP, that the company says greatly reduces carbon emissions associated with the transportation of products.
According to the company, the poten- tial for this bin is enormous due to the many production and agriculture industries prevalent in Australia and New Zealand. In addition, the group reveals that there is a new design com- ing out late next year, which it says will be “an absolute game changer” to the
Main: The Close the Loop Group team at AUSPACK 2022.
Above: O F Packaging’s Roll ‘n Recycle and new PE recyclable packs.
landscape of bulk bins in these regions.
Close the Loop has also partnered with REDcycle in the creation of TonerPlas, and the manu- facture of rFlex, a recycled plastic for
injection-moulding.
TonerPlas is Close the Loop’s award-
winning asphalt additive, which uses consumer waste soft plastics and toner from old printer cartridges, and other inputs to create a key binding ingredi- ent used in roads that makes them last longer and requires less maintenance than traditional asphalt. Designed to be mixed with asphalt, it improves the mechanical properties of the road leading to improved durability and a reduced carbon footprint.
rFlex resin for injection-moulded plastic products is manufactured using waste soft plastics from super- market customers which are then made into a variety of products and commodities.
Close the Loop usually collects post consumer soft plastics from sev- eral sources that include REDcycle. However, a fire on one of the produc- tion lines earlier this year has meant that it has been unable to accept any of these materials since June. CEO Joe Foster has confirmed that the line will be in full production again by July 2023, with more than three times the capacity and will then require large volumes of this material to meet a growing demand for TonerPlas and rFlex.
One year on from its listing last year, it’s fair to say that the group has moved swiftly to amass assets, deliver value for stakeholders, and drive forward its stated intent to become a leader in plas- tics circularity. ■
From far left (l-r):
CLG is partnering with Myer on cosmetic packaging recycling.
CLG is now a distributor for Multitank, a nestable, food-grade certified and reusable bulk container made from recycled PP.
The group’s toner cartridge recycling initiative was a foundation program.
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