Rexam PLC announces that it has taken an equity stake in Magnaparva Packaging (MP Packaging) to help develop new technologies for its beverage can making process. MP Packaging is part of Magna Parva, a UK-based advanced engineering and research and development company.
Recognized by the UK Government for sustainable innovation in packaging, Magna Parva has built a significant IP portfolio since its formation in 2005. The joint venture will enable Rexam to harness the expertise gained in the company’s aerospace and defense sectors and apply this to the can making business. The technology pipeline for MP Packaging is looking at disruptive technologies in metal forming to further drive lightweighting and reduce energy consumption during manufacture.
“We are delighted to partner with Rexam and are excited at the possibilities we can achieve together”, said Andrew Bowyer, commercial director of MP Packaging. “We are confident that by leveraging our experience from other design and manufacturing environments, our engineers can deliver game changing solutions.”
“This move is fully in line with our stated objective to increase our focus on innovation,” Dr. Lisa Carroll, director of technology at Rexam, added. “The new partnership will be a key element in our plans to ensure Rexam is at the forefront of can making and that we can support our customers in their need for cost effective, innovative and sustainable packaging.”