Mengniu scores another sustainability win with move to recycled resin for packaging

CHINA – Chinese dairy giant Mengniu has partnered with packaging and materials science firm Dow to transition to the use of recycled resin shrink film for the secondary packaging of its dairy products.  According to a report by Food Navigator, the transition makes the Chinese dairy heavyweight the first firm in China’s domestic food industry to adopt recycled resin in packaging.  Speaking to Journalists, Mengniu Dairy Packaging R&D Director, Frank Wang said that the transition was in line with its vision to reduce its environmental impacts as part of its…

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Danone finalizes sale of stake in Chinese dairy company Mengniu

FRANCE – French dairy company, Danone has finalized the strategic sale of its approximately 9.8% stake in China Mengniu Dairy Company Limited. According to a statement from the French dairy company, the transaction resulted in total gross proceeds of HKD 15.4 billion (US$1.93 billion) The settlement of the transaction will take place on May 17, 2021. The company further noted that in line with its disciplined capital allocation, the majority of the proceeds will be returned to shareholders through a share buyback program that will be announced soon. Mengniu is…

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