Amcor Partners With South Korean Chemical Materials Maker on Sustainable Polyester Development

MT Newswires Live2024-11-28

Amcor (ASX:AMC) partnered with South Korean chemical materials manufacturer Kolon Industries to develop and commercialize sustainable polyester materials for flexible packaging, the packaging company said in a statement Wednesday.

The companies will work together in developing chemically recycled polyethylene terephthalate (PET) and polyethylene furanoate (PEF) materials, with the aim of integrating 30% post-consumer recycled materials by 2030, according to the statement.

PET is commonly used for packaging food and beverages, while PEF is considered a more sustainable alternative.

Amcor shares rose nearly 1% in midday trade Thursday.

Price (AUD): $16.33, Change: $+0.12, Percent Change: +0.74%

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