The Dow Chemical Company (DOW) has declared its collaboration with Darplas, a Latin American producer of liquid and high barrier packaging. Darplas has secured the license for Dow’s PacXpert Packaging technology and will produce packages in Columbia for its customers in the Andean region, Central America and the Caribbean.
Dow’s shares rose 0.6% during the trading session on Aug 19 and closed the day at $53.08. The stock is up roughly 22% so far this year.
The PacXpert Packaging technology facilitates the conversion of large hard plastics containers to portable packages. This was initially called Smart Bottle technology in Latin America by Dow’s Packaging and Specialty Plastics business. Following its success, Dow entered into a global license agreement and renamed it PacXpert Packaging technology.
The technology offers lightweight packaging design and fitment closure along with unified dual handles for easy pouring, reclosing and carrying. The PacXpert technology has a variety of household, institutional and industrial use and enables packaging of food, condiments, liquids and dry goods. Moreover, the cube-shaped package is also able to stand upright or on its side when filled.
The packaging technology is environment-friendly as it minimizes wastage of the products and also requires less raw materials compared to other alternative packages. Moreover, the empty PacXpert packages are efficient enough to be transported and stored easily, thereby reducing the carbon dioxide emissions.
The Owner and General Manager of Darplas, Daniel Ruiz, is looking forward to this partnership and believes that this innovative and flexible packaging solution will meet consumer needs and withstand stiff competition in the packaging industry in Latin America.
Dow is a Zacks Rank #3 (Hold) stock.
Better-ranked companies worth considering in the diversified chemical space include Celanese Corp. (CE), Johnson Matthey plc (JMPLY) and LyondellBasell Industries NV (LYB). All these stocks carry a Zacks Rank #2 (Buy).