Jabil invests in technology designed to meet sustainability demands
March 11, 2021 - Jabil has announced expansion plans for its newly acquired paper bottle technology. Jabil (NYSE: JBL), the largest company headquartered in St. Petersburg, will invest $25 million in a Manteca, California plant it acquired when the company bought Ecologic Brands earlier this year. The investment also includes building a new paper bottle plant in Tortosa, Spain. The expansion will create the first paper-based scaled technology in the market, a news release said. The company said it is making the investment in response to significant demand in the consumer packaged goods market. Jabil cited a Euromonitor report that showed consumers say they are three times more likely to prefer paper-based packaging over alternatives that leverage metal or plastic.