RCS - Zotefoams PLC - Coveris using MuCell® technology <Origin Href="QuoteRef">ZTF.L</Origin>

ZotefoamsAnnouncement

09/03/2017 07:08

RNS Number : 9276Y
Zotefoams PLC
09 March 2017
RNS Reach announcement 
Zotefoams plc
("Zotefoams" or "the Company")
Coveris using MuCell technology to produce polystyrene-free packaging 
Next generation in lightweight technology provides a cost-effective, ecological and resource-saving packaging solution
9 March 2017 - Zotefoams plc, a world leader in cellular materials technology, announces that Coveris Holdings S.A. (Coveris), a leading international manufacturing company, is now using MuCell technology to produce a polystyrene-free packaging solution, known as NEOCELL PP+, on a commercial basis. 
NEOCELL PP+ is the first thermoformed polypropylene (PP) sheet in the form-fill-seal (FFS) industry which is dominated by polystyrene (PS) packaging. The PP material guarantees the same output and efficiency as PS with the addition of improved price stability, excellent thermoforming capabilities and a significant carbon footprint reduction.
The development of NEOCELL PP+ was driven by the need to provide an ecological and resource-saving packaging solution, while enhancing overall cost-effectiveness. NEOCELL PP+ eliminates the need for chemical foaming agents using MuCell technology for injection of inert gas, resulting in a 26% reduction in product weight compared to PS. In addition, variable density regulation by injecting the optimal amount of gas generates material savings. Under the terms of the agreement, MuCell Extrusion LLC, a wholly owned subsidiary of Zotefoams plc, has licensed its technology to Coveris with a fee payable as a percentage of cost savings.
David Stirling, Group CEO of Zotefoams plc, said:
"We are very pleased to be working with Coveris to produce the innovative NEOCELL PP+ polystyrene-free packaging solution. This partnership further exemplifies the financial and environmental benefits that MuCell Extrusion technology can deliver."
Coveris is dedicated to providing solutions that enhance the safety, quality and convenience of every day products. Coveris' NEOCELL PP+ has opened a new chapter with its ground-breaking and innovative PS-free packaging solution for all kinds of FFS applications, for use in sectors such as the dairy industry. For example, NEOCELL PP+ has been developed as a breakable PP FFS sheet, making it ideal for use in yoghurt pots so they can be easily detached from each other when in packs. 
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Enquiries:
Zotefoams plc 
+44 (0)208 664 1600
David Stirling, Group CEO

Gary McGrath, Finance Director



FTI Consulting 
+44 (0)203 727 1000
Victoria Foster Mitchell / Simon Conway

About Zotefoams plc
Zotefoams plc (LSE - ZTF) is a world leader in cellular materials technology. Using a unique manufacturing process with environmentally friendly nitrogen expansion, Zotefoams produces and sells lightweight AZOTE polyolefin and ZOTEK high-performance foams for diverse markets worldwide. Zotefoams uses its own cellular materials to manufacture T-FIT advanced insulation for demanding industrial markets. In addition, Zotefoams owns and licenses patented MuCell microcellular foam technology, developed specifically for extrusion applications, from a base in Massachusetts, USA to customers worldwide. 
Zotefoams is headquartered in Croydon, UK, with additional manufacturing sites in Kentucky and Oklahoma, USA (foam products manufacture and conversion), Massachusetts, USA (MuCell Extrusion) and Jiangsu Province, China (T-FIT insulation products). 
www.zotefoams.com
AZOTE, ZOTEK, T-FIT are registered trademarks of Zotefoams plc 
MuCell is a registered trademark of Trexel Inc. 
About Coveris Holdings S.A.
As a leading international manufacturing company, Coveris is dedicated to providing solutions that enhance the safety, quality and convenience of products we use every day. In partnership with the most respected brands in the world, Coveris develops vital products that protect everything from the food we eat, to medical supplies, to the touch screen device in our pockets, contributing to the lives of millions every day. Coveris is an affiliated portfolio company of Sun Capital Partners, Inc.
www.coveris.com

This information is provided by RNS
The company news service from the London Stock Exchange
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