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Nestle to spend up to $2.1 billion on recycled plastic plan

Source: Bloomberg

Nestle SA plans to spend as much as 2 billion Swiss francs ($2.1 billion) in a plan to push the plastics industry to address the dearth of recycled packaging that’s safe to use for food.

The KitKat maker will earmark more than 1.5 billion francs to pay a premium for such plastic to encourage production, the company said Thursday. Recyclers have tended to neglect that market because of the difficulties in making non-toxic food-grade packaging.