Page 38 - Plastics News April 2022

BUSINESS NEWS

quisition of certain assets of Valence and leading portfolio of LFP patents and a
A123 industrial division, the manage- management team with vast experience Circulate Capital Invests
ment of Lithium Werks brings 30+ years of innovation in cell chemistry, custom in Deluxe To Scale Recy-
of battery expertise and nearly 200 MWh modules, packing, and building large cling Of Plastic Waste
annual production capacity including scale battery manufacturing facility. Re-
coating, cell and custom module manu- liance will be leveraging the experience
facturing capability. Lithium Werks is a of these senior management teams, to- irculate Capital, the Singapore-
leading provider of cobalt free and high- gether with the technology and know- Cbased investment management
performance Lithium IronPhosphate how gained through acquisition of firm that finances innovations, com-
(“LFP”) batteries. With the recent re- Faradion Limited and Lithium Werks, panies, and infrastructure to prevent
surgence in demand for LFP batteries, to establish an end-to-end battery eco- ocean plastic and
Lithium Werks is uniquely positioned system that will allow Reliance to deliver climate change
to take advantage of the global oppor- not only manufacturing at large scale by advancing the
tunities before itthrough its integrated certain key supply chain materials, such circular economy,
portfolio of LFP solutions: The combi- as cathode, anode, electrolyte, but also has announced
nation of Lithium Werks with Reliance’s a cell manufacturing facility including that the Circulate
recently announced acquisition of Fara- leading IOT/AI capabilities giving Reli- Capital Ocean
dion Limited, a global leader in sodium- ance the flexibility to produce batteries Fund (CCOF I)
ion cell chemistry, further strengthens and battery module systems consisting of is investing in Deluxe Recycling Pri-

Reliance’s technology portfolio and different chemistries for various applica- vate Limited (Deluxe). Deluxe is a
leading Indian plastic recycling com-
provides it access to one of the world’s tions across energy storage and mobility. pany that recycles challenging multi-
layer plastics (MLP), like sachets and
Sonoco Acquires Flexible Packaging Used-Beverage-Cartons (UBC) into
new, valuable products, such as pal-
$15.7 million and assumed debt of $2.6 lets and rickshaw seats. By creating a
million.The joint venture generated sales market for MLP waste, the company
of approximately $34 million in 2021. It plans on diverting 34,000 tons of
operates high-quality rotogravure print- waste per annum from incineration
ing and sophisticated lamination opera- or landfills by 2025, helping pave the
tions and is one of the largest converters way to a circular economy in India.
of foil-based flexible packaging in Brazil. Typically considered of no value and
Recently, Sonoco raised its first-quarter very difficult to recycle, MLP waste
2022 earnings guidance on the back of is one of the most polluting forms of
onoco Products Company SON the company’s year-to-date results. It plastic packaging and, if it is collected
Sannounced that it has acquired the now expects adjusted earnings per share at all, is used for fuel, incineration,
remaining 33% interest in Sonoco do (EPS) between $1.70 and $1.80 for the or co-processing at cement plants.
Brasil Participacoes, Ltd a flexible pack- quarter, up from its previous guidance Deluxe has developed a scalable eco-
aging joint venture. It is a top-tier flex- of $1.25-$1.35. The updated guidance system for the collection of MLP by
ible packaging supplier to several global indicates year-over-year growth of 75% working with and paying a network
multinational consumer packaging at the mid-point. In first-quarter 2021, of aggregators and small material re-
goods companies serving confection- the company reported an adjusted covery facilities (MRF) to collect and
ery, dairy, pharmaceutical and industrial EPS of $1.00. Sonoco is gaining from sort MLP waste. The company then
markets in Brazil.Sonoco had acquired strong demand in most of its consumer uses proprietary, in-house developed
the 67% controlling interest in Graffo and industrial businesses. The com- technology to manufacture a vari-
Paranaense de Embalagens S/A (“Graf- pany’s consumer packaging businesses ety of heavy, rigid products. In 2020,
fo”) on Apr 1, 2015. The company had experienced pandemic-driven demand the company recycled 7,100 tons of
paid approximately $18.3 million for for certain consumer products like MLP, making it one of the largest
the acquisition, which included cash of food and household products last year. organized MLP recyclers in India.

38 PLASTICS NEWS April 2022