Pactiv Evergreen Launches Recycleware® Reduced-Density Polypropylene Packaging Products
Rhea-AI Summary
Pactiv Evergreen Inc. (PTVE) has launched innovative Recycleware® Reduced-Density Polypropylene (RDPP) meat trays, offering a sustainable alternative to foam polystyrene packaging. These vertically integrated trays are extruded, thermoformed, and padded at Pactiv Evergreen facilities, ensuring processor-grade quality and compatibility with existing overwrap equipment.
The Recycleware RDPP meat trays have been recognized by the Association of Plastic Recyclers (APR) for meeting the highest criteria in the APR Design® Guide for Plastics Recyclability. They are recyclable in communities that accept polypropylene trays, aligning with Pactiv Evergreen's commitment to producing innovative packaging with reduced environmental impact.
Positive
- Launch of innovative Recycleware® Reduced-Density Polypropylene (RDPP) meat trays
- Recognition from Association of Plastic Recyclers (APR) for meeting highest recyclability criteria
- Vertically integrated production process ensuring quality and compatibility with existing equipment
- Sustainable alternative to foam polystyrene packaging
Negative
- None.
Insights
The launch of Recycleware® Reduced-Density Polypropylene (RDPP) meat trays by Pactiv Evergreen marks a significant step towards sustainable packaging in the food industry. This innovation addresses the growing concern over foam polystyrene use, offering a recyclable alternative that maintains processor-grade quality. The vertical integration of production processes suggests improved efficiency and potentially lower costs. The recognition from the Association of Plastic Recyclers (APR) adds credibility to the product's recyclability claims, which could appeal to environmentally conscious consumers and retailers. However, the actual environmental impact will depend on the availability of polypropylene recycling facilities in different communities. This move aligns with the broader industry trend towards sustainable packaging solutions, potentially positioning Pactiv Evergreen favorably in a market increasingly driven by environmental considerations.
Pactiv Evergreen's introduction of Recycleware® RDPP meat trays could significantly impact their market position. The product addresses a growing demand for sustainable packaging in the food industry, particularly as alternatives to foam polystyrene. This launch could potentially increase Pactiv Evergreen's market share, especially among environmentally conscious retailers and consumers. The compatibility with existing overwrap equipment is a important selling point, as it reduces adoption barriers for processors. However, the success of this product will largely depend on factors such as pricing competitiveness, performance compared to traditional options and the rate of adoption by major food processors and retailers. The long-term market impact will also be influenced by the development of recycling infrastructure for polypropylene across different regions. Overall, this product launch positions Pactiv Evergreen as an innovator in sustainable packaging, which could enhance brand value and customer loyalty.
LAKE FOREST, Ill., Aug. 29, 2024 (GLOBE NEWSWIRE) -- Pactiv Evergreen Inc., a leading manufacturer of fresh food and beverage packaging in North America, is excited to launch innovative Recycleware® Reduced-Density Polypropylene (RDPP) meat trays. Pactiv Evergreen’s Recycleware RDPP meat trays are the perfect solution for packer processors seeking alternatives to foam polystyrene.
“Pactiv Evergreen is dedicated to producing innovative, quality packaging with a reduced environmental impact,” said Eric Wulf, President of Pactiv Evergreen’s Food and Beverage Merchandising business. “Our new Recycleware RDPP Meat Trays are vertically integrated, meaning they are extruded, thermoformed and padded at our facilities. They are processor grade and run well on existing overwrap equipment.”
Pactiv Evergreen’s Recycleware RDPP meat trays have been recognized by the Association of Plastic Recyclers (APR) as meeting the highest criteria in the APR Design® Guide for Plastics Recyclability. Additionally, they may be recycled in communities that accept polypropylene trays. The Recycleware RDPP meat trays are a sustainable alternative to foam polystyrene trays.
“APR is pleased to recognize Pactiv Evergreen’s Recycleware RDPP Meat Tray as meeting or exceeding the voluntary requirements for APR Design® for Recyclability Recognition,” said Steve Alexander, APR President & CEO. “The Recycleware RDPP Meat Tray was evaluated using the most stringent, industry accepted criteria that encompass a wide range of design features affecting plastics recycling.”
“It’s rewarding to support our customers in their efforts to have a positive impact on the environment,” said Lynn Dyer, Chief Sustainability Officer for Pactiv Evergreen. “We’re committed to our company’s purpose of Packaging a Better Future by providing innovative, sustainable solutions.”
Learn more on how Recycleware RDPP meat trays can be a sustainable solution for your business: https://pactivevergreen.com/rdpp-meat-trays
About Pactiv Evergreen Inc.
Pactiv Evergreen Inc. (NASDAQ: PTVE) is a leading manufacturer and distributor of fresh foodservice and food merchandising products and fresh beverage cartons in North America. The Company produces a broad range of on-trend and feature-rich products that protect, package and display food and beverages for today’s consumers. Its products, many of which are made with recycled, recyclable or renewable materials, are sold to a diversified mix of customers, including restaurants, foodservice distributors, retailers, food and beverage producers, packers and processors. Learn more at www.pactivevergreen.com.
Note to Investors Regarding Forward-Looking Statements
This press release contains forward-looking statements. All statements contained in this press release other than statements of historical fact are forward-looking statements, including statements regarding our sustainability goals. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “likely” or “continue,” the negative of these terms and other comparable terminology. These statements are only predictions based on our expectations and projections about future events as of the date of this press release and are subject to a number of risks, uncertainties and assumptions that may prove incorrect, any of which could cause actual results to differ materially from those expressed or implied by such statements, including, among others, those described under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2023 and our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024 and June 30, 2024, in each case filed with the Securities and Exchange Commission. New risks emerge from time to time, and it is not possible for our management to predict all risks, nor can management assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement the Company makes. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. Except as otherwise required by law, the Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
Media Contacts:
Beth Kelly – Pactiv Evergreen
beth.kelly@pactivevergreen.com
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