Symphony Environmental Technologies, global specialist in sustainable plastic technologies, has inked a manufacturing agreement with Ecobatch Plastic Factory in the United Arab Emirates.
Under the agreement, Ecobatch will produce Symphony’s d2w biodegradable plastic masterbatch for supply throughout the Middle East, although the factory can also supply other markets if needed.
With the Middle East being one of Symphony’s prime markets, the agreement is expected to improve supply-chain efficiency and stock availability, while reducing costs and increasing sales.
“Ecobatch has sufficient capacity to support a substantial increase in demand in the region, which is anticipated due to wider enforcement of regulations which support the d2w type of biodegradable technology,” the company stated.
Michael Laurier, CEO of Symphony commented: "We are delighted to be using Ecobatch to improve our supply chain and have been working with the owners for many years now in developing the market for our products, which we believe is primed for further growth."
AIM-listed Symphony Environmental Technologies was awarded the Green Economy Mark from the London Stock Exchange.
SYM shares were up over 4% on Monday morning.