Pactiv to buy RM2 International's pallets

Sustainable pallet developer RM2 International agreed that Pactiv, a subsidiary of US packaging company Reynolds Group, will buy and use its pallet product.

Pactiv added RM2 to its list of clients and agreed to purchase and use hundreds of the company’s BLOCKPal pallets for all non-wood pallet uses throughout its organisation across various regions.

Chief executive John Walsh said: “This agreement is consistent with previous announcements in which we stated that a number of customer announcements were in the pipeline, consisting of both outright sales and lease agreements, such as the agreement with a global leader in temperature-controlled warehousing and logistics to the food industry announced earlier this month."

Shares in RM2 International were up 6.81% to 27.77p at 1058 GMT.