Elopak ASA and Nippon Paper Industries Co., Ltd have signed a comprehensive Memorandum of Understanding (MoU). The agreement covers further collaboration between the two companies, looking at how potential business can be jointly developed and organised given their respective expertise, assets and networks.
The two companies have worked closely together for many years. In March 2016 they signed a product licensing agreement that allows Nippon Paper to manufacture and sell certain Pure-Pak cartons in Japan. When Elopak listed on the Oslo Stock Exchange in June 2021, Nippon Paper entered into a cornerstone agreement to acquire shares equivalent to 5.0% of the share capital.
Under the MoU a Steering Committee will be established, tasked with selecting and implementing collaborative themes that leverage the strengths of both companies, while increasing competitiveness and expanding sales of paper packaging to accelerate the move toward a low carbon circular economy.
Said Thomas Körmendi, CEO, Elopak: “We are delighted to be exploring the opportunities that exist for Elopak and Nippon to collaborate further. Building on our strong track record of working together to deliver for customers, we are excited by the opportunity to leverage our relative strengths and areas of expertise to drive the adoption of sustainable packaging solutions.”
Added Yasuhito Obayashi, Managing Executive Officer and General Manager of Paper-Pak Sales Division, Nippon Paper: “We are really excited by this opportunity to grow our strong relationship with Elopak and are looking forward to collaborative value creation based on both companies’ deep expertise and strength that delivers sustainable packaging solutions to market.” For more visit Elopak.com
