Page 10 - Packaging News Magazine Nov-Dec 2021

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COVER STORY | www.packagingnews.com.au | November-December 2021
Closing the loop
in name and purpose
In a game-changing move for sustainable packaging and recycling,
O F Packaging and Close the Loop are joining forces to form – and ASX list – the new entity Close the Loop Group. Lindy Hughson reports.
is about collaboration throughout the supply chain to achieve reduced environmental and social impacts for delivery of products and services.”
Morriss says the Close the Loop and O F Packaging circular integra- tion brings design, manufacture, and end of life management under the one roof. This gives customers a one stop, circular economy shop.
“It provides easier processes for verified data capture and reporting, circular supply chain management, and reduces cost,” he adds.
Tom Ogonek, CEO of the USA Operations concurs with Foster and Morriss, and adds, “By owning the infrastructure to create, recover and reuse, Close the Loop Group is unique compared to others in the space, both in packaging and the recovery of hard to recycle products.
EXPANDING COLLECTION & RECOVERY
With over 260,000 current print con- sumable collection sites across the US, Canada, Australia and Europe, the newly merged Close the Loop Group is positioned as the leader in the recovery, recycling, and reuse of cartridges, inks and toners for multi- national clients such as HP, Brother, Canon, and Xerox.
The expansion of these collection and recovery systems within the urban mining sector will see the Group also involved in cosmetics recycling, as well as the take-back of e-waste, power tools, phone cases, eyewear, and other hard-to-recycle waste streams that can be used as end-of-life commodities.
THE merger of O F Packaging and Close the Loop, two well-estab- lished, sustainability-focused businesses known as innovators in their respective industries, marks a significant step forward for Australia’s circular economy.
For Close the Loop, which has existing resource collection and recy- cling operations in Australia, Europe and the United States, merging with O F Packaging and its extensive busi- ness divisions in Australia and South Africa has provided an opportunity for the group to list on the Australian Stock Exchange at the end of 2021.
The merger and listing will estab- lish Close the Loop Group as a key participant in the global circular economy, notably for flexible plastic packaging, processing, recycling, and refurbishment of consumable prod- ucts such as printer cartridges.
Close the Loop Group intends to provide end-to-end solutions for brand owners, from the design and manufacturing of packaging and products, through to collection and recovery, processing, recycling, and production of secondary products
that reduce waste to landfill.
The new entity will be headed up by packaging industry veteran and managing director of O F Packaging, Joe Foster, who will be CEO of Close
the Loop Group.
“O F Packaging and Close the Loop
were already collaborating on a num- ber of sustainability projects in the soft plastics space and saw the opportuni- ties that existed between both business entities for growth,” Foster tells PKN.
“Our goals and industry positions complemented each other so well. As a supplier and manufacturer of pack- aging, O F Packaging recognised and embraced our role in providing sus- tainable solutions to the market, and we were looking to further invest in recovery and the use of recycled materi- als. This fit perfectly with the work that Close the Loop is doing,” Foster says.
“Merging the two companies allows us to create a business suited for the circular economy and gets us closer to achieving the holy grail of recycling packaging back into pack- aging,” he adds.
Close the Loop founder Steve Morriss says, “The Circular Economy
ABOVE: Established global presence: Close the Loop’s recycling site in the US.
BELOW: Circular model: O F Packaging is behind the circular economy spout pouch packaging for household and personal care brand Zero Co.