Symphony Environmental and Grupo Bimbo report progress on d2w biodegradable packaging program
Francesca Morgan
Company News - 2 mins
13:46, 22nd August 2019

Symphony Environmental Technologies (SYM)  FOLLOW shares perked up on Thursday after its partner firm, Grupo Bimbo, announced the progress of its biodegradable packaging program, an initiative which utilises Symphony’s plastic technology.

A global specialist, Symphony yields its technology "to make plastics smarter" - sold into nearly 100 countries around the world, with applications in retail, medical and manufacturing industries, the company's main focus lies with the defence of both environmental and human health.

The biodegradable program, worked on by Symphony and partner firm, Grupo Bimbo, was first launched in Mexico City in 2008 to target waste management and to regulate the life of packaging. 

Notably, Mexican-based Grupo Bimbo is the largest baking company across the globe, with sales of $US 15.1 billion across 32 countries and 3.2 million points of sale -- essentially, the program addresses their mission to make all packaging recyclable, biodegradable or compostable by 2025.

Shares in Symphony Environmental Technologies ticked up over 5% following this morning’s announcement.

In this morning's statement, Symphony explained that the new packaging using the d2w brand was presented for the first time at an event on Tuesday in Mexico City. 

Grupo Bimbo's President and CEO, Daniel Servitje, touched on the program’s evolution since its initial launch. He further reiterated the progress made by reinforcing their ultimate objective. 

He commented: "This journey began in 2008 when, with the help of Symphony, a strategic partner in the innovation of packaging, we became the first Mexican company to incorporate d2w technology in our packaging. A year later, in 2009, we were pioneers worldwide when we introduced this technology in metalized packaging.”

He added, “Today, 100% of our packaging in Mexico, that can be made with biodegradable technology, is already biodegradable and 100% recyclable. Our objective is that by 2025 all our packaging will be recyclable or biodegradable or compostable."

Michael Laurier, CEO of Symphony, commented, "It has been a challenge and a privilege to work with Grupo Bimbo and to help them make sure that their packaging meets the highest technical and environmental standards.

“We have invested heavily in scientific and technical excellence to make this happen and are proud to partner with one of the world's most successful and responsible groups of companies.”

Find more News & Updates on Symphony Environmental Technologies: FOLLOW

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