We are excited to announce that on the 2nd of December, 2021, OF PACK, which Foster International Packaging is a division of, merged with Close The Loop to form Close The Loop Group (CTLG).
In addition to the merger, the Founder – led Group will be listed on the Australian Stock Exchange (CLG) and has already gained great interest from the investor market and our Joint Lead Managers.
With locations in Australia, Belgium, South Africa, and the United States, Close the Loop Group aim to be a market leader in urban mining and extend our already impressive commodity collection offering. Reclaiming hard to recycle materials such as printer cartridges, e-waste, cosmetics, and soft plastic waste will be key for moving towards a circular economy.
The Group will be reusing and recycling these materials into equivalent or secondary products, diverting waste from landfill, and creating value throughout existing supply chains. This includes our product TonerPlas®, which is an asphalt additive. These innovations allow the Group to expand their zero waste to landfill targets and provide a key end market for reclaimed commodities.
From the creation of products and packaging using recyclable materials and recycled content, through to the development of take-back programs for brand owners and Original Equipment Manufacturers (OEMs), Close the Loop Group will provide circular integrated solutions to brand owners and associated stakeholders.
Contributing positively to the environment while helping to meet global sustainability legislation are key tailwinds for Close the Loop Group and provide us the opportunity to foster further positive societal change, and ultimately reach the fundamental sustainability goals of our business units.