Earlier this year, we reported on businesses in the Saint-Laurent borough joining forces to develop new solutions for reusing plastic waste.
Behind the progress toward a circular economy was Montreal’s Polykar, an innovator of sustainable packaging solutions since 1987.
“Over the last 35 years, we have built a resilient company founded on innovation and operational excellence,” says Amir Karim, chief executive officer of Polykar.
For example, Polykar is the creator of PolyVie, a recycling program aimed at transforming plastic waste from local companies into reusable resources.
Sourcing plastic waste locally from businesses, the initiative fosters a community-driven effort to combat environmental challenges.
This month, Polykar unveiled that it has received a “significant strategic investment” from a Canadian investor.
“This collaboration reaffirms Polykar’s leadership in the field of sustainable packaging,” remarked Karim.
The funding from Quebec City’s MontClerc Capital will enable Polykar to expand its production capacity and accelerate the development of packaging solutions to meet rising market demand, according to a statement from the Canadian companies.
“With the support of MontClerc Capital, we are ready to invest in advanced manufacturing technologies and to take part in the consolidation of our industry,” Karim commented. “This investment underscores confidence in our business model and growth potential.”
Martin Garand, Partner at MontClerc Capital, believes that Polykar “meets all our investment criteria, particularly due to the strength of its leadership team, the quality of its products, and its sound governance.”
“The company has significant growth potential, and MontClerc Capital’s involvement, both in terms of capital and strategic expertise, will help strengthen its foundation and accelerate its development,” Garand continued. “Our investment reflects our confidence in their growth plan and our support for their vision to become a North American leader in flexible packaging.”