ASX RELEASE
23 September 2020
SECOS Strategic Distribution Partner Delivers $1.5m Resin Orders
Highlights:
- SECOS strategic distribution partner, ISOI Mexico has achieved initial commercial orders of over $1.5m in Cardia™ compostable resin for delivery to Latin American converters
- SECOS and ISOI signs exclusive strategic distribution agreement for the Latin American market after a successful intensive qualifying and trial period
- Latin American Governments have banned the use of single use plastics with certified compostable technology proving to be an ideal environmentally sustainable substitute
Sustainable and eco-friendly bioplastics developer SECOS Group Limited (ASX:SES “the Company”) is pleased to advise that it has secured a strategic distribution agreement with ISOI – “Infinite Source Of Ideas”, a privately owned company located in Mexico City. Under the agreement, ISOI will act as the Company’s exclusive distributor in Latin America for the sale of Cardia™ Bioplastic resins to local converters. ISOI have already supplied several convertors with Cardia™ resins who have produced compostable bags for major local retailers. Distribution and trials of resins to local converters has resulted in a ramp up of demand with initial commercial orders exceeding $1.5m and due for delivery in the December quarter.
SECOS CEO, Ian Stacey, said: “We are extremely pleased to have developed a quality strategic distribution partnership with the team at ISOI. They share our genuine passion for environmental technology and have a unique understanding of the Latin American market which is rapidly transforming to eliminate single use plastics.”
ISOI Commercial Director, Esteban Guzman, said: “After initial qualification trials our customers are very happy with the quality and relative ease of processing of Cardia™ compostable resin. We are very excited to see demand beginning to ramp up. Like Cardia, ISOI remains committed to eliminating single use plastics by replacement with certified compostable Cardia bioresin film and bags and look forward to growing our relationship with SECOS.”
This ASX release has been approved for release to ASX by the Board of Directors of SECOS.
For more information, please contact:
Richard Tegoni
Executive Chairman
+61 411 110 901
About SECOS Group Limited
SECOS Group Limited (ASX: SES) is a leading developer and manufacturer of sustainable packaging materials. Based in Melbourne, Australia, SECOS supplies its proprietary biodegradable resins, packaging products and high-quality cast films to a blue-chip global customer base. SECOS Group is integrated from resin production, into film (cast and blown) production and can develop bespoke compostable solutions for a range of applications.
The Company’s headquarters and Global Application Development Centre are based in Melbourne, Australia. SECOS has a Product Development Centre and manufacturing plant for resins and finished products in China and resins plant in Malaysia. The Company also has manufacturing plants for high quality cast films in Malaysia.
SECOS has sales offices in Australia, Malaysia, China, Mexico, and USA, with a network of leading distributors across the Americas, Europe, Asia, the Middle East, Africa, and India.
The Company’s headquarters and Global Application Development Centre are based in Melbourne, Australia. SECOS has a Product Development Centre and manufacturing plant for resins and finished products in China and resins plant in Malaysia. The Company also has manufacturing plants for high quality cast films in Malaysia.
SECOS has sales offices in Australia, Malaysia, China, Mexico and USA, with a network of leading distributors across the Americas, Europe, Asia, the Middle East, Africa, and India.
About ISOI – Infinite Source Of Ideas
ISOI – Infinite Source of Ideas is a privately owned company located in Mexico, Mexico City and specializes in the sale and distribution of Cardia™ Bioplastic resins across Latin America. At ISOI, we believe that bioplastics are a key solution. We are determined to do our part and help you do yours. Whether you want to lower the plastic percentage in your packaging or switch altogether to compostable and biodegradable materials, we have a solution for you. We are going to help you reach the most sustainable product, making sure it aligns with your CSR strategy while being economically feasible. http://isoi.tech
Disclaimer and Explanatory Notes Forward Looking Statements
This document may include forward looking statements. Forward looking statements include, but are not necessarily limited to, statements concerning SECOS’ planned operational program and other statements that are not historic facts. When used in this document, the words such as “could”, “plan”, “budget”, “estimate”, “expect”, “intend”, “may”, “potential”, “should” and similar expressions are forward looking statements. Although SECOS believes its expectations reflected in these are reasonable, such statements involve risks and uncertainties, including but not limited to risks and uncertainties relating to impacts that may arise from Covid-19, and no assurance can be given that actual results will be consistent with these forward-looking statements. SECOS confirms that it is not aware of any new information or data that materially affects the information included in this announcement and that all material assumptions and technical parameters underpinning this announcement continue to apply and have not materially changed.