Orthex Oyj: Orthex invests in research to increase the use of recycled and renewable plastic
Orthex Corporation, Press release, 8 September 2022 at 8.00 a.m. EEST
Orthex aims to provide consumers with the opportunity to choose more environmentally friendly products, and that is why Orthex makes considerable investments in research to find new methods and raw material solutions. Orthex is involved in two significant research projects, the goals of which are to increase the use of recycled and renewable plastics. In line with Orthex's sustainability strategy, both projects support the company's 2030 carbon neutrality target and the target to increase the use of sustainable raw materials.
Orthex has launched a significant research project for the development of future recycled plastic products and related ecosystem. The project will be carried out in cooperation with partners and will last until the end of 2024. The goals of the project are to build an ecosystem aimed at increasing the use of recycled plastic and to generate new information about the use of recycled plastic in different applications, especially in products suitable for food contact. The project is part of the extensive and pioneering Borealis SPIRIT (Sustainable Plastics Industry Transformation) program supported by Business Finland, which aims to transform the plastics industry towards a more sustainable future.
In addition, Orthex participates in a large cooperation project of seven years that will start in Finland in January 2023, to promote the circular economy of plastics. The PlastLIFE SIP-EU project piloted by the Ministry of the Environment and the Finnish Environment Institute (SYKE) is part of the EU's LIFE program. As part of the PlastLIFE SIP-EU project, the goal of Orthex's work package is to find new potential renewable plastic raw materials, test raw materials in production and as finished products, and then bring products from renewable plastic to the market.
"Sustainability is at the core of our strategy, and our goal is to reduce the carbon footprint of our products by sourcing an increasingly larger proportion of our raw materials from renewable and recycled materials. These are excellent collaborative projects that support our strategic goal," says Alexander Rosenlew, CEO of Orthex Corporation.
More information about Orthex's sustainability strategy and goals is available in Orthex's Annual Report (https://investors.orthexgroup.com/wp-content/uploads/2022/03/Orthex_Annual_report_2021-1.pdf).
Alexander Rosenlew, CEO, Orthex Corporation
Tel. +358 (0)40 500 3826
Hanna Kukkonen, CMO, Orthex Corporation
Tel. +358 (40) 053 8886
Orthex in brief
Orthex is a leading Nordic houseware producer that strives to make consumers' everyday life easier with its products that are presented under the consumer brands SmartStore™ in storage products, GastroMax™ in kitchenware and Orthex™ in home and plant care categories. Orthex aims to be the industry forerunner in sustainability.
Orthex's net sales in 2021 was 88.7 million euros and operating profit 9.3 million euros. The company has customers in more than 40 countries and local sales offices in Finland, Sweden, Norway, Denmark, Germany, France, and the United Kingdom. Orthex is listed on the Nasdaq Helsinki stock exchange.