• A kitchen tidy bin using a Cardia Bioplastics bag.
    A kitchen tidy bin using a Cardia Bioplastics bag.
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Eco-friendly bioplastics developer Secos Group has won a contract to supply compostable bags to Penrith City Council via its subsidiary Cardia Bioplastics.

The contract with Penrith City Council is the largest active waste diversion program amongst the city councils, Secos says.

It is valued at more than $1.5 million in newly won business over a term of 18 months, and represents approximately seven per cent of total company sales compared to FY17.

Secos remains confident of the demand outlook for its eco-friendly compostable waste management products as local authorities in Australia seek to divert organic food waste from landfill.

Secos managing director Stephen Walters said he was pleased to see the wins Secos has achieved so far in the organic waste diversion bag market.

It recently implemented a range of business improvement measures at the company’s manufacturing plant in Nanjing, China, and can now supply Australian councils with its compostable bags.

Secos has partnered with the council to help it with sustainable waste management and resource recovery services.

Food & Drink Business

Global yoghurt company, Chobani, has completed a $1 billion (US$650 million) equity capital raise as it plans to expand its manufacturing operations in the US. The raise was advised by law firm Gibson Dunn.

Treasury Wine Estates (TWE) says it is not in a position to revise its guidance for FY16 due to lower-than-expected performance in China and distribution issues in California. The company said it was unlikely to meet FY26 depletion targets for Penfolds in China.

For more than 35 years, family-owned producer, Gourmet Dairy Co., has been manufacturing sauces, dairy and non-dairy products under its own brands and as a contract manufacturer for some of Australia’s most recognised labels. Now, the company is investing more than $1 million to expand its production capabilities and support new product innovation.