Cabka and CHEP sign multi-year contract for supply of reusable containers out of recycled plastics
Amsterdam, 20 September 2022. Cabka N.V. (“Cabka” or the “Company”), a leading integrated circular production company, listed at Euronext Amsterdam, has signed a long-term supply agreement with CHEP to supply reusable containers out of recycled plastics starting 2023.
The agreement leverages on Cabka’s extensive product development, material, and processing know-how. The container solution is fully customized to CHEP’s performance requirements and is set to maximize the use of recycled materials facilitating a fully circular approach. Delivery of the first volumes is anticipated for mid-2023. Over the full term, the contract will contribute approximately EUR 9 million1 in revenues per year.
By signing this deal, CHEP confirms its purpose to offer sustainable solutions fit for multiple parts of its customers’ supply chain, and it aligns with the company’s ‘zero waste’ commitment, which includes innovating more closed-loop products and aspiring to use 30% recycled or upcycled plastic waste by 2025.
Tim Litjens, CEO of Cabka commented: “The contract with CHEP promotes Cabka’s strategic objective of developing high value-add logistic products, aimed at maximizing durability and use of recycled plastic. After signing a similar contract with US-retailer Target earlier this year, this new long-term agreement accentuates Cabka’s leading edge in customized solutions.”
For more information, please contact: David Brilleslijper, Investor & Press contact IR@cabka.com, or D.Brilleslijper@cabka.com, +316 109 42514
Cabka is in the business of recycling plastics from post-consumer and post-industrial waste into innovative reusable transport packaging (RTP), like pallets- and large container solutions enhancing logistics chain sustainability. Cabka is leading the industry in its integrated approach closing the loop from waste, to recycling, to manufacturing. Backed by its own innovation center it has the rare industry knowledge, capability, and capacity of making maximum use bringing recycled plastics back in the production loop at attractive returns. Cabka is fully equipped to exploit the full value chain from waste to end-products.
Cabka employs some 700 FTE in Europe and the US recycling 150 kT of plastics into some 10 million pallets and 200,000 large containers realizing EUR 170m in revenues in 2021 and EUR 102m in the first half of 2022.
Cabka is listed at Euronext Amsterdam as of 1 March 2022 under the CABKA ticker with international securities identification number NL00150000S7.
- Based on prices at time of signing
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Cabka NV published this content on 20 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 September 2022 08:39:02 UTC.
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