good natured Products Inc. Expands Capacity at IPF to Meet Increased Demand for Plant-Based Compostable and Recyclable Packaging
VANCOUVER, BC, July 6, 2021 /CNW/ – good natured Products Inc. (the “Company” or “good natured®“) (TSXV: GDNP), a North American leader in earth-friendly plant-based products, today announced it has expanded its manufacturing capabilities at its IPF Facility (formerly Integrated Packaging Films).
In line with plans announced in December 2020 and in connection with the acquisition of Integrated Packaging Films, good natured® has invested to expand the facility’s annual production capacity by 50%, to 33 to 35 million pounds annually. This expanded capacity positions good natured® to strategically capitalize on rapidly growing interest in compostable and renewable packaging options being driven in part by government and industry lead initiatives in both the United States and Canada. In particular, the additional capacity will play an integral role in meeting the demand for the recently launched microwavable to-go containers.
The expansion follows on good natured®‘s recent acquisition of Ex-Tech Plastics which further enhances the Company’s access to post-industrial recycled content. This serves customers who have minimum levels of recycled content or responsibly sourced bio-based content in their sustainable packaging mandates, a recently set out requirement in the US Plastics Pact Roadmap to 2025.
Details of the IPF capacity expansion to support future growth initiatives are as follows:
- The upgrade program for one of IPF’s four extrusion lines (“Line 3”) has been completed, adding approximately 4 million pounds of new production capacity.
- The Company has entered into a purchased agreement for a high-speed extruder which is expected to be installed in August 2021 and be operational in the fourth quarter of 2021. The new high-speed production line has an output of 1,800 to 2,000 pounds per hour versus the existing production line output of 800 pounds per hour, more than doubling the production output per hour with similar operational costs levels. The new line will replace the existing Line 4 and add approximately 9 million pounds of net new production capacity.
- The two expansions will increase production capacity at the IPF facility to 33 – 35 million pounds annually.
“I want to congratulate the team at our IPF Facility for developing and initiating a 50% production capacity increase within our existing manufacturing footprint,” stated Paul Antoniadis, CEO of good natured®. “The new high-speed extruder is over two times more efficient than our existing standard equipment and will strengthen our customer experience with shorter onboarding and production lead times. The addition of high-speed extrusion technology and capacity increase improves our supply chain economics and positions the Company well for significant organic growth potential going forward.”
The good natured® corporate profile can be found at: investor.goodnaturedproducts.com
About good natured Products Inc.
good natured® is passionately pursuing its goal of becoming North America’s leading earth-friendly product company by offering the broadest assortment of eco-friendly options made from plants instead of petroleum. We’re all about making it easy and affordable for business owners and consumers to switch to better everyday products® made from renewable materials and free from chemicals of concern.
Part of the sustainable consumer goods market, good natured® offers over 400 products and services through wholesale and retail channels, including our own e-commerce stores. From plant-based home organization products to compostable food containers, bioplastic industrial supplies and medical packaging, we’re focused on delivering a great customer experience to make more plant-based products readily accessible to more people as the path to deliver meaningful environmental and social impact.
For more information: goodnaturedproducts.com
On behalf of the Company:
Paul Antoniadis – Executive Chair & CEO
1-877-286-0617 ext. 113
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SOURCE Good Natured Products
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