Welcome to NEO’s weekly news monitoring of the plastics industry.
Every Monday, we publish a roundup of the top developments in plastics and sustainability – from regulatory changes to company news.
This week’s highlights:
- The new finance head of Sibur, Russia’s largest petrochemical producer, said the company isn’t likely to hold an IPO in the next two years as it focuses on ramping up exports to Asian markets. Sibur is in the midst of opening two major new production sites that will quintuple its pre-2020 polymer output. (Financial Times)
- Origin Materials, a company that extracts chemicals from plants to make environmentally friendly plastic, is reportedly in talks to go public via a merger with the special purpose acquisition company (SPAC) Artius Acquisition Inc. Origin Materials works with companies that include Nestle SA, Danone SA and PepsiCo Inc. (Bloomberg)
- Coca-Cola has announced that it is introducing 100% recycled plastic bottles in the United States, after previously advocating for plant-based bottles that don’t use fossil fuels. The company that has been called responsible for producing more plastic pollution than any other hopes to reduce its use of new plastic by more than 20% across its North American portfolio compared to 2018. (Bloomberg)