Symphony Environmental Technologies PLC - Borehamwood, Hertfordshire-based plastics and rubber - Wins a two year exclusive supply contract with Georgia, US-based sustainable packaging and manufacturing firm Better Earth LLC. Continues that it will supply its d2w biodegradable plastics technology for the manufacturing of Better Earth's new bottle for nutritional supplements. The bottles will launch in the US. Anticipates that manufacturing will start with around 20 million d2w bottles of all sizes, growing to 120 million in the first year of exclusivity. Does not disclose the value of the contract.
"This contract with Better Earth is an important milestone for Symphony, being the first commercial use of d2w for bottles made of rigid plastic," Chief Executive Michael Laurier comments.
Current stock price: 19.70 pence, up 7.9% on Wednesday
12-month change: up 23%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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Symphony Env. (SYM)