Sustainable solution providers Close the Loop has celebrated its successful merge with O F Packaging, following its listing on the Australian Stock Exchange.
Close the Loop Group hosted a celebratory launch event at Crown Casino on Wednesday, with representatives from industry, the media and both companies present.
O F Packaging is an industry-recognised packaging specialist in Australia with a focus on creating soft plastic material structures that have better outcomes for reuse and recyclability.
The merger is set to support Close the Loop Group’s capacity to reclaim hard to recycle materials such as printer cartridges, soft plastics, packaging and other items, supporting the emerging circular economy for these products.
Chief Executive Officer Joe Foster said the company was thrilled to complete the merger.
“The merger really allows us to expand our operations and move into other areas of the business. It is an important message that we are trying to put out there. Having the ability to create, collect, reuse and keeping everything within the circular economy,” Foster said.
“I am very passionate about building the business and helping to take the company on a journey towards success. For me it’s about expanding the business through organic growth, through acquisitions and through new innovations. Our business is passionate about delivering goals relating to the circular economy.”
The merger follows the listing of Close the Loop Group on the Australian Stock Exchange, a milestone which Foster said would support the group’s long-term ambitions.
“It is a substantial achievement; it allows us to realise our opportunities through the capital that we have raised. When we went to market and spoke with potential investors, they were ready to support our business, as they really truly believe the message that we are putting out there,” he said.
For more information on Close the Loop, click here.
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