Concord, Ontario - Vital Products Inc., a Canadian manufacturer of industrial packaging, has signed a sales and marketing agreement with Eco Tech Development llc of Nevada, which specialises in eco-friendly industrial packaging applications.
Concord-based Vital Products will market certain novel Eco Tech technologies, beginning with a new bio-based foam-packaging product.
"This product will set a new standard in the foam packaging industry," claimed Vital Products chief executive officer, Michael Levine, in a company statement. Levine added than a high quality packaging foam is not sufficient in today's market, "even if it is eco-friendly. We must also compete on price and here we have a technology that offers both an environmental benefit and a cost advantage to our customers."
According to the Vital Products ceo, "The market for current urethane-type packaging foam is $900 million and the company expects to gain a significant market share over the next three years."
"Our new developments and recent patent filings are certainly a first globally, not just from a chemistry standpoint, but also from an economics point of view," said Annette Shoupe, president of Eco Tech, in the statement. "We have worked for the last four years on developing our new product line and we are very excited to enter the next phase of commercialisation."
According to the Vital Products website, it is working on various bio-based foams including a foam-in-place packaging material, used as cushioning in electronic, giftware, automotive and machine parts, as well as 'E-coplank,' used to make cushion packaging for high-end products. The company also offers biobased flexible foam for automotive components such as head rests.