A UNIT of D&L Industries, Inc. (DNL) has received international certification for its biodegradable plastic products, in line with the company’s goal to provide sustainable and environment-friendly materials.
The listed plastics and oleochemicals manufacturer said in a statement that its subsidiary, D&L Polymers & Colours, Inc. (DLPC) was given a certification by Berlin-based organization DIN CERTCO, which provides conformity assessments based on several international standards.
For a product to be certified, it must meet several standards including a heavy metal limit, 90% biodegradation within six months, and eco-toxicity that ensures the soil can still be used for plant growth after the product was used for compost, among others.
DNL’s formulation of biodegradable plastic products is registered under the Biorez brand, and are used for films, straws, cutlery, and containers.
“This certification gives credibility to our brand Biorez which opens opportunities to service not just domestic but also overseas demand,” DLPC Managing Director Lester A. Lao said in a statement.
The company said Biorez has already been exported to Italy for bags and cutleries application.
“While the current contribution to our sales remains small, we are optimistic on the potential of biopolymers as the world shifts towards more sustainable and environment-friendly plastic materials,” Mr. Lao said.
DNL booked a 10% increase in net income to P3.19 billion in 2018, despite a four percent decline in revenues to P26.54 billion due to lower coconut prices during the period. High margin specialty products contributed 63% of the company’s revenues, while commodities, which pertains to refined vegetable oils and biodiesel, accounted for 37%.
The company expects to generate double-digit profit growth this year, banking on higher consumer spending due to the elections as well as slower inflation.
Shares in DNL jumped 0.87% or 10 centavos to close at P11.56 each at the stock exchange on Thursday. — Arra B. Francia
