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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Total    FP   FR0000120271

TOTAL

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Nestle, Total Partner to Boost Plastic Recycling in France

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12/10/2019 | 07:43am EST

By Dieter Holger

Total and Nestle SA (NESN.EB) said Tuesday that they have joined a project to boost plastic recycling in France, one of the European countries with the lowest plastic recycling rates.

The project will develop the chemical-recycling industry in the country and tackle unrecyclable plastic, including multilayered food-grade packaging that is usually incinerated or discarded.

France recycled an estimated 27% of plastic packaging waste in 2017, compared with 42% across the European Union's 28 member states, European Commission figures show.

Bernard Pinatel, president of refining and chemicals at French energy company Total, said teaming up with major players in the packaging value chain is "an important step in our ambition to produce 30% recycled polymers by 2030."

"Chemical recycling is a perfect addition to our existing mechanical recycling activities," he said.

Swiss food giant Nestle said the project furthers its goal of 100% reusable or recyclable packaging by 2025.

"Combining our expertise in a collective project to improve recycling is something we need to do to tackle the global plastic issue," said Mathieu Tuau, head of packaging and sustainability at Nestle France.

The other members of the project are engineering firms Citeo and Recycling Technologies and packaged-food company Mars Inc., famous for its Snickers and Twix candybars. Mars has a goal of 100% recyclable, reusable or compostable packaging by 2025.

"Identifying and investing in the right waste management systems is a critical part of the solution to address the plastic waste problem," said Kate Wylie, global vice president of sustainability at Mars.

Write to Dieter Holger at dieter.holger@wsj.com; @dieterholger

Stocks mentioned in the article
ChangeLast1st jan.
LONDON COFFEE -1.07% 1765 End-of-day quote.0.00%
LONDON SUGAR -0.69% 403.9 End-of-day quote.12.29%
NESTLÉ S.A. 0.65% 109.02 Delayed Quote.3.40%
NEW YORK COCOA -1.14% 2771 End-of-day quote.9.79%
TOTAL 0.61% 47.605 Real-time Quote.-3.82%
WTI -0.49% 55.35 Delayed Quote.-5.00%
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Financials (USD)
Sales 2019 193 B
EBIT 2019 17 446 M
Net income 2019 11 628 M
Debt 2019 30 900 M
Yield 2019 5,62%
P/E ratio 2019 11,8x
P/E ratio 2020 10,0x
EV / Sales2019 0,86x
EV / Sales2020 0,85x
Capitalization 135 B
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Number of Analysts 25
Average target price 63,48  $
Last Close Price 52,31  $
Spread / Highest target 47,2%
Spread / Average Target 21,3%
Spread / Lowest Target -9,17%
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NameTitle
Patrick Pouyanné Chairman & Chief Executive Officer
Jean-Pierre Gerard Claude Sbraire Chief Financial Officer
Marie-Noelle Semeria Group Chief Technology Officer & Senior VP
Patrick Artus Independent Director
Marie-Christine Coisne-Roquette Independent Director
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