RCS - Zotefoams PLC - Acquisition of the assets and IP of Refour ApS

ZotefoamsAnnouncement

09/11/2022 07:00

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RNS Number : 7341F  Zotefoams PLC  09 November 2022

 

Zotefoams plc

("Zotefoams" or the "Group")

 

Acquisition of the assets and intellectual property of Refour ApS

 

Zotefoams plc, the UK-headquartered specialist in advanced cellular materials,
has today completed the acquisition of the assets and intellectual property of
Refour ApS (Skandeborg, Denmark) ("Refour") for a modest cash consideration.
In addition, Torben Andersen, Refour CEO, will join the Zotefoams team.

Zotefoams, through its MuCell Extrusion (MEL) subsidiary, is in the advanced
stages of developing fully recyclable mono-materials based on proprietary
foaming technology.  The addition of Refour's knowledge, technology and
equipment will accelerate this development across a wide variety of
applications such as barrier technology cartons and pouches, as well as trays
and cups.

Zotefoams' ReZorce(®) mono-material packaging offers brand owners and
packaging suppliers a much-needed alternative to composite packaging, which
does not meet increasingly stringent mandates on recycled content and
recyclability of packaging materials. Combining the companies' portfolios will
offer a wide choice of recyclable packaging using foaming technology to reduce
costs and material content in HDPE, PP and PET - the main polymers used in
food and beverage packaging.

Zotefoams has focused initial development efforts for ReZorce on delivering a
mono-material alternative to the existing "liquid packaging board" ("LPB")
beverage carton, of which an estimated 250 billion are used annually.
Commercial-scale trials of ReZorce cartons are planned shortly while trials
for other packaging formats, such as pouches, are expected to follow
thereafter.  Refour's focus on other materials and formats complements the
work done by Zotefoams and will increase material and application choices for
customers.

David Stirling, Group CEO of Zotefoams plc, said, "Brand owners and packaging
suppliers urgently need solutions that reduce waste and increase recycling in
packaging, and we expect significant demand for proven technologies. Zotefoams
and Refour have been following parallel paths in the development of
mono-material barrier packaging but with a similar ethos; combining forces at
this point, and in particular welcoming Torben to the team, will allow us to
accelerate efforts and broaden our offering for customers whose current
packaging is not fit for the future."

Torben Andersen, CEO of Refour, commented, "The circular economy is key to
reducing the environmental impact of packaging and current composite materials
fall a long way short in this regard. Mono-materials produced from common
polymers are an attractive alternative for brand owners, with the added
advantage that no specialist recycling is required. Working with the Zotefoams
team, I look forward to making this a reality, helping manufacturers meet
their obligations and reducing the waste and energy impact of common pack
formats."

 

- Ends -

 

Enquiries:

 

 Zotefoams plc                +44 (0) 208 664 1600
 David Stirling, Group CEO

 IFC Advisory                 +44 (0) 203 934 6630
 Graham Herring

 Tim Metcalfe

 Zach Cohen

 

 

About Zotefoams plc

 

Zotefoams plc (LSE - ZTF) is a world leader in cellular materials technology
delivering optimal material solutions for the benefit of society. Utilising a
variety of unique manufacturing processes, including environmentally friendly
nitrogen expansion for lightweight AZOTE(®) polyolefin and ZOTEK(®)
high-performance foams, Zotefoams sells to diverse markets worldwide.
Zotefoams uses its own cellular materials to manufacture T-FIT(®) advanced
insulation for demanding industrial markets. Zotefoams also owns and licenses
patented microcellular foam technology to reduce plastic use in extrusion
applications and for ReZorce(®) mono-material recyclable barrier packaging.

 

Zotefoams is headquartered in Croydon, UK, with additional manufacturing sites
in Brzeg, Poland and Kentucky, USA (foam manufacture) Oklahoma, USA (foam
products manufacture and conversion), Massachusetts, USA (MuCell Extrusion)
and Jiangsu Province, China (T-FIT).

 

www.zotefoams.com (http://www.zotefoams.com)

 

AZOTE(®), ZOTEK(®), ReZorce(®) and T-FIT(®) are registered trademarks of
Zotefoams plc.

 

 

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