Investment21 Mar 2025, 02:35 am
HUL Invests in Lucro Plastecycle to Strengthen Flexible Plastics Circularity
AI Summary
The Board of Directors of Hindustan Unilever Limited (HUL) approved an investment to acquire a 14.3% stake in Lucro Plastecycle Private Limited (Lucro), a leading player in recycled flexible plastics. This investment is a step towards HUL's sustainability goals, aiming to scale up the use of recycled flexibles content in packaging and strengthen plastic circularity. The investment will increase the availability of recycled content for flexibles, provide a roadmap for businesses to move towards sustainable plastic packaging, and address the challenge of hard-to-recycle flexible plastic.
Key Highlights
- HUL to invest in Lucro Plastecycle, a leading player in recycled flexible plastics.
- Investment aims to strengthen plastic circularity and increase the availability of recycled content for flexibles.
- A step towards HUL's sustainability goals and the Government's vision of zero plastic waste future.
- Lucro is a well-integrated waste management, recycling and product manufacturing company.
- Investment will drive large-scale commercial adoption of post-consumer resin and set a new benchmark for sustainable plastics.