VICTORIA, Australia--(Cardia Bioplastics Limited (CNN.AX) is pleased to announce its collaboration with Nestlé S.A. (NSRGY.PK), the largest Fast Moving Consumer Goods company in the world, to reduce the environmental impact of packaging.)--Australian company
This collaboration is line with Cardia’s strategy of working with global brand owners who are looking for alternatives to conventional packaging that will reduce carbon footprint and use less oil with an environmental benefit, whilst at the same time maintaining the product performance.
The relationship with Nestlé is one of several that Cardia has established with global brand owners and packaging companies. It is also an endorsement of Cardia’s capabilities with respect to renewable and sustainable plastics and packaging in both flexible and rigid packaging.
The areas of collaboration are to be kept confidential due to their sensitive commercial nature, as both the parties have entered into a confidential Memorandum of Understanding.
About Cardia Bioplastics
Cardia Bioplastics Limited develops, manufactures, and markets packaging resins derived from renewable resources to the plastics packaging industry. The Company’s packaging resins are used in the production of blown film/bags, injection moldings, extrusion and vacuum formings, and foam products. It sells its products in Australia, New Zealand, and internationally. The Company was formerly known as Cardia Technologies Limited and changed its name to Cardia Bioplastics Limited on July 13, 2009. Cardia Bioplastics was founded in 2002 and is based in Hawthorn, Australia.