ITOCHU Corporation completed the acquisition of Paptic.

ITOCHU Corporation, a Japanese general trading company, completed the acquisition of Paptic, a manufacturer of bio-based, recyclable, reusable and biodegradable packaging material made of renewable raw-materials. Financial terms were not disclosed. “Paptic as a company addressing a global environmental challenge has a perfect fit with Itochu’s sustainability strategy. Having tested the different Paptic materials in various packaging applications we believe Paptic will be a true game-changer in the flexible packaging materials in practically all geographical markets.”, comments Mr. Jin Asada, ITOCHU CEO.