The global rigid plastics packaging market will reach a value of $161.11 billion this year, according to a report by visiongain. A number of favourable consumer trends, along with developing markets, will drive this growth.
The recycling of rigid plastics, excluding bottles, climbed 13 per cent in 2011 to reach at least 934 million pounds (423,650 tonnes) for the year, and US consumers with local access to recycle non-bottle rigid plastics shot from 40 per cent to 57 per cent between 2011 and 2012, according to a pair of reports released today at the Plastics Recycling Conference in New Orleans, USA.
Plastics packaging producer Sonoco has commenced commercial production at its $15 million rigid plastics container plant in New Albany, Ohio, which the US company plans to use to grow its Beauty and Home Care business.
Packaging converter Rexam is to sell its Personal Care business for US$709 million (£452m).
The business is to be sold in two parts: the Cosmetics, Toiletries and Household care products business (CTH) to an affiliate of private equity firm Sun Capital Partners for $459m in cash; and the High Barrier Food packaging business (HBF) to a subsidiary of Silgan Holdings for $250m in cash.
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