Symphony Plastic Technologies plc is having success selling degradable plastic shopping bags to customers in Europe and the Caribbean.
The company announced a deal to supply bags to Cooperative Group, a major British supermarket chain. Two other British chains, Kwik Save and Somerfield, are due to take delivery of Symphony retail bags soon.
Symphony also makes degradable refuse sacks and bin liners and conventional polyethylene packaging. It began trading on the London Stock Exchange's Alternative Investment Market last year. The firm reported a loss of £1.46 million ($2.28 million) on sales of £3.8 million ($5.93 million).
Symphony is based in Borehamwood, England, and also has a plant in Great Yarmouth, England. In addition, it is involved in a Middle Eastern joint venture, Symphony Bin Hilal Plastics LLC, with a local partner in Abu Dhabi.
The venture plans to build a second plant later this year that will begin production in 2003. The plant will boost the venture's annual resin throughput to about 26 million pounds.