Magna Parva has entered into a joint venture with global beverage can maker and FTSE 100 company, Rexam PLC, to develop new technologies for the metal packaging industry. Rexam has taken an equity stake in Magna Parva Packaging with the aim of bringing early stage disruptive technologies through development to scale-up and launch.
Magna Parva, best known for its work in space engineering, is already harnessing its specialist expertise gained in the space, aerospace and defence sectors and transferring it to the metal packaging sector. Recognised by the UK Government for sustainable innovation in packaging, Magna Parva has built a significant IP portfolio since its formation in 2005.
"We are delighted to partner with a leading global company such as Rexam and we are excited at the possibilities we can achieve together," said Andrew Bowyer, Commercial Director of Magna Parva Packaging. "By leveraging our experience from other design and manufacturing environments, our engineers can be very efficient in delivering high impact solutions."
Dr Lisa Carroll, Director of Technology at Rexam added: "This move is fully in line with our stated objective to increase our focus on innovation. The new partnership will be a key element in our plans to ensure Rexam is at the forefront of can making and that we can support our customer's in their need for cost effective, innovative and sustainable packaging."