Pact acquires Flight Plastics
Pact Group has announced the acquisition of Flight Plastics — a packaging provider for the fresh food segment. Pact claims its new business is New Zealand’s only packaging manufacturer with integrated PET recycling capability.
The packaging company said the acquisition is another important step towards its goal of leading the sector towards a circular economy in Australia and New Zealand.
Pact’s Managing Director and CEO Sanjay Dayal said the company is investing across its platform to develop the recycling capability its customers will need to deliver their 2025 sustainability commitments.
Pact’s target is 30% recycled content across its portfolio, which means it will need more than 60,000 tonnes of recycling capacity by 2025.
“As an integrated recycling and packaging manufacturer, we have a special position in the plastics value chain,” Dayal said.
“We have capability not only to recycle plastics, but also to create demand for recycled materials through innovative packaging design and manufacture. Flight strongly complements and enhances our platform.
“We welcome the highly talented and committed Flight team to Pact. We are excited by the opportunity to leverage our combined strengths in leading change and growing the circular economy.”
Flight Plastics is a rigid plastic packaging manufacturer. Its integrated plastic recycling plant producing rPET has the capability to process more than 5000 tonnes of recycled PET.
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