Amsterdam,
20
September
2022
|
07:30
Europe/Amsterdam

Cabka and CHEP sign multi-year contract for supply of reusable containers out of recycled plastics

Amsterdam, 20 September 2022. Cabka N.V. (“Cabka” or the “Company”), a leading integrated circular production company, listed at Euronext Amsterdam, has signed a long-term supply agreement with CHEP to supply reusable containers out of recycled plastics starting 2023.

The agreement leverages on Cabka’s extensive product development, material, and processing know-how. The container solution is fully customized to CHEP’s performance requirements and is set to maximize the use of recycled materials facilitating a fully circular approach. Delivery of the first volumes is anticipated for mid-2023. Over the full term, the contract will contribute approximately EUR 9 million[1] in revenues per year.

As one of the world’s most sustainable logistics businesses, CHEP is pleased to partner with Cabka and introduce these sustainable solutions. CHEP is committed to zero waste, a pledge that includes innovating more closed-loop products and aspiring to use 30% recycled or upcycled plastic waste by 2025.

Tim Litjens, CEO of Cabka commented: “The contract with CHEP promotes Cabka’s strategic objective of developing high value-add logistic products, aimed at maximizing durability and use of recycled plastic. After signing a similar contract with US-retailer Target earlier this year, this new long-term agreement accentuates Cabka’s leading edge in customized solutions.”
 


 [1] Based on prices at time of signing


For more information, please contact:
David Brilleslijper, Investor & Press contact
IR@cabka.com, or D.Brilleslijper@cabka.com,
+316 109 42514
www.cabka.com
 

About Cabka
Cabka is in the business of recycling plastics from post-consumer and post-industrial waste into innovative reusable transport packaging (RTP), like pallets- and large container solutions enhancing logistics chain sustainability. Cabka is leading the industry in its integrated approach closing the loop from waste, to recycling, to manufacturing. Backed by its own innovation center it has the rare industry knowledge, capability, and capacity of making maximum use bringing recycled plastics back in the production loop at attractive returns. Cabka is fully equipped to exploit the full value chain from waste to end-products.

Cabka employs some 700 FTE in Europe and the US recycling 150 kT of plastics into some 10 million pallets and 200,000 large containers realizing EUR 170m in revenues in 2021 and EUR 102m in the first half of 2022.

Cabka is listed at Euronext Amsterdam as of 1 March 2022 under the CABKA ticker with international securities identification number NL00150000S7.

Disclaimer
The content of this press release may include statements that are, or may be deemed to be, ''forward-looking statements''. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms ''believes'', ''estimates'', ''plans'', ''projects'', ''anticipates'', ''expects'', ''intends'', ''may'', ''will'' or ''should'' or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company’s business, results of operations, financial position, liquidity, prospects, growth or strategies.

Readers are cautioned that any forward-looking statements are not guarantees of future performance. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of publication of this press release. The Company undertakes no obligation to publicly update or revise the information in this press release, including any forward-looking statements, except as may be required by law.

This document contains information that qualifies as inside information within the meaning of Article 7(1) of Regulation (EU) No 596/2014 on market abuse.

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