Solegear Bioplastics and US-based Thermoform Engineered Quality (TEQ), an industry leader in the retail and medical packaging space, have signed a strategic agreement to accelerate the growth and expansion of Solegear's bioplastics into the packaging mainstream.
The alliance will give both companies a significant competitive advantage by leveraging each partner's market, technology, capital and human resources to create new business opportunities. The agreement will open the door for the use of Solegear's sustainable materials in specific growth sectors of the rigid plastic packaging marketplace.
"Solegear's partnership with TEQ, a North American leader in thermoformed plastic packaging, grows our market reach and sales channels, allowing us to produce higher volumes of more environmentally responsible and sustainable bioplastic packaging," said Toby Reid, CEO of Solegear. "This strategic alliance sets the stage to further broaden Solegear's vision: providing a better performing and more sustainable alternative for rigid packaging solutions on a global basis."