Norway's Elopak ASA and Japan-based Nippon Paper Industries Co., Ltd have signed a memorandum of understanding (MoU) to strengthen collaboration in the field of liquid-paper packaging.
The agreement includes scope for exploring new business opportunities leveraging both groups' experience, assets and networks.
The MoU aligns with Elopak’s ambitions to meet the rising demand for sustainable packaging solutions by pursuing a growth strategy centred on investment in innovation, as well as driving the plastic to carton conversion, the company noted.
Elopak CEO, Thomas Körmendi, commented, “We are delighted to be exploring the opportunities that exist for Elopak and Nippon to collaborate further. Building on our strong track record of working together to deliver for customers, we are excited by the opportunity to leverage our relative strengths and areas of expertise to drive the adoption of sustainable packaging solutions.”
Nippon Paper managing executive officer and general manager of Paper-Pak sales division, Yasuhito Obayashi, added, “We are really excited by this opportunity to grow our strong relationship with Elopak and are looking forward to collaborative value creation based on both companies’ deep expertise and strength that delivers sustainable packaging solutions to market.”
The two companies have worked closely for many years.
In March 2016, they signed a product licensing agreement that allows Nippon Paper to manufacture and sell certain Pure-Pak cartons in Japan.
Nippon Paper entered into a cornerstone agreement to acquire shares equivalent to 5.0% of the share capital when Elopak was listed on the Oslo Stock Exchange last year.
Under the MoU, a Steering Committee will be established, tasked with selecting and implementing collaborative themes utilising the abilities of both groups, while attempting to expand sales of paper packaging to accelerate the move toward a low carbon circular economy.
Collaboration between Nippon and Elopak is built on the companies’ shared commitment to sustainability and innovation, Elopak added.
Both companies are members of the United Nations Global Compact and incorporate the UN’s Sustainable Development Goals (SDGs) into their development strategies.
They also have a shared vision towards sustainable forest management and improved recycling of their paper products.