Dow Inc. DOW recently said that Liby — a leading laundry brand in China — has selected the former’s Innate TF polyethylene resins for Tenter Frame Biaxial Orientation (“TF-BOPE”) for its packaging used to contain laundry pods. The first batch of China’s first fully recyclable laundry packaging is now available on Tmall.com.
The partnership between Dow and Liby reinforces both companies’ commitment to achieve a circular economy in China. The collaboration pioneers fully recyclable laundry packaging in China and is also a key step in improving the recyclability and sustainability quotient in the packaging of laundry products for millions of households in the country, Dow noted. It also advances Dow’s sustainability target to have 100% of its packaging applications to be recyclable and reusable by 2035.
The collaboration between Dow, Liby and leading packaging manufacturer, Fujian Kaida, has allowed Liby to make its fully recyclable laundry packaging for the laundry pods. Fujian Kaida will design and make the packaging for Liby’s laundry pods.
Dow’s Innate TF-BOPE has been chosen by Liby due to its all-polyethylene structure (which enables end-product to be recycled in existing recycle streams), strong material properties that offer high toughness to minimize leakage during e-commerce transportation, and excellent optics for shelf appeal and touch and feel. The resins’ unique molecular architecture demonstrates outstanding physical properties vis-à-vis conventional polyethylene products.
Dow, in July 2020, announced its innovative and revolutionary brand extension, TF polyethylene resins for TF-BOPE films, to its family of Innate precision packaging resins. Innate TF-BOPE is geared to meet the global industry’s need for a high-performing, convenient and recyclable packaging material.
Dow, which is among the prominent players in the chemical space along with Air Products and Chemicals, Inc. APD, Eastman Chemical Company EMN and LyondellBasell Industries N.V. LYB, posted adjusted earnings of 50 cents per share for the third quarter of 2020, topping the Zacks Consensus Estimate of 33 cents. Its net sales were $9,712 million for the quarter, down roughly 10% year over year. It, however, surpassed the Zacks Consensus Estimate of $9,340.3 million.
Dow, in its third-quarter call, noted that it expects the rebound that it witnessed in its markets in the third quarter to continue in the near term. The company said that it entered the fourth quarter with momentum on a sequential comparison basis, improved financial flexibility and a consistent focus on cash. It remains focused to deliver against its strategic and operational objectives.
Moreover, Dow is implementing a restructuring program that will rationalize certain manufacturing assets and lower global workforce costs by nearly 6%. The company expects these actions to generate total annualized EBITDA savings of more than $300 million by the end of 2021.
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