SABIC, a leader in diversified chemicals, announced a net profit of SAR 2.18 billion ($0.58 billion) for the second quarter of 2024, a significant increase from SAR 0.25 billion ($0.07 billion) in the previous quarter. This growth reflects improved product margins and increased sales volumes, as well as effective management of regional supply chain …
Tadweer Group expands Recycling Infrastructure in Abu Dhabi with 25 Reverse Vending Machines
Tadweer Group has deployed 25 Reverse Vending Machines (RVMs) across strategic locations in Abu Dhabi, including Umm Al Emarat Park and Zayed International Airport, with plans for further installations. The initiative involves collaboration with various partners, such as the Ministry of Finance, Abu Dhabi Sports Council (ADSC), ADNEC Group, and the Department of Municipalities …
Borouge reports 33% increase in Q2 net profit driven by record production volumes
Borouge Plc announced a 33% year-on-year increase in net profit for the second quarter of 2024, reaching $308 million, supported by strong sales and cost efficiencies. Revenue for the quarter totaled $1.5 billion, up 6% compared to the previous year, exceeding analysts’ expectations. The company achieved an industry-leading EBITDA margin of 41%, reflecting …
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Avery Dennison launches INGEDE12-certified paper label solutions for packaging recycling
Avery Dennison Corporation (NYSE: AVY) has announced its first range of INGEDE12-certified paper label solutions, aimed at enhancing the recycling of paper and cardboard packaging. This initiative aligns with the company’s ongoing efforts to support a circular economy through innovative materials. The new label range incorporates advanced adhesive technology that facilitates the separation …
Paperworld Middle East introduces Kraft and Packaging Section as MEA Market grows
The 13th edition of Paperworld Middle East, scheduled for 12-14 November at the Dubai World Trade Centre, will feature a new Kraft and Packaging section. This addition addresses the rising demand for sustainable materials in the paper industry and highlights the increasing regional focus on environmentally friendly packaging solutions. Research from Mordor Intelligence …
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RMB Corvest and Partners complete MBO of Nampak Liquid Cartons
RMB Corvest, in partnership with Dlondlobala Capital, has completed a management buyout (MBO) of Nampak Liquid Cartons, a division of Nampak Products Ltd, along with its operations in Zambia and Malawi. The acquisition will see the formation of the Diversified Liquid Packaging Group (DLP Group), which will retain its current operations and workforce. …
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Marigold shifts to Sonoco’s fully recyclable EnviroCan® packaging
Marigold Health Foods has announced a switch to Sonoco’s fully recyclable EnviroCan® packaging for its natural and organic products. The new packaging, made from paper-based materials, supports Marigold’s commitment to sustainability while addressing the growing demand for environmentally friendly food packaging. The packaging will be used for products such as nutritional yeast, bouillon, …
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Holoprint expands market presence in the UAE with sustainable innovations
Holoprint Security Solutions, part of the Holostik Group and established in 2015, has quickly emerged as a leader in the holographic products sector, particularly within the UAE. With its manufacturing plant in Dubai, Holoprint offers customized holographic security solutions to a diverse client base in over 40 countries. The company blends Indian values with …
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MEA paper industry set to exceed $20 Billion, driven by growing demand for sustainable packaging
The Middle East and Africa (MEA) paper and pulp industry is expected to surpass USD 20 billion within the next six to seven years, driven by growing demand for packaging solutions. GCC countries, particularly Saudi Arabia and the UAE, are leading this rise, with paper packaging playing a key role in the region’s growth, …
McDonald’s progress and strategy in sustainable packaging and waste reduction
McDonald’s is advancing its efforts to reduce waste and transition to sustainable packaging and toy materials. These initiatives are aimed at supporting environmental protection and long-term business resilience. Key strategies include redesigning packaging, exploring alternative materials, and enhancing recovery opportunities. Recent Achievements By late 2023, McDonald’s had achieved approximately 86.7% of its goal …
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