STGT SIGNS MOU WITH SIAM REFRACTORY INDUSTRY TO TURN USED GLOVE FORMERS INTO REFRACTORY MATERIAL
- Project aims to give a new lease of life to, and increase the value of, massive amounts of waste and used materials generated annually
- Partnership represents a commitment by both parties to align their respective business operations with the principles of the circular economy
- Both parties to engage in R&D and knowledge sharing on sustainable environmental management
Left to Right: Ms Umaporn Charoensak, SRIC’s Waste Circularity Business Director; Mrs Malee Thanapempulpol, SRIC’s Refractory Business Director; Mr Wisut Chongcharoenkit, SRIC’s Green Circularity Business Director; Mr Vitanath Sincharoenkul, STGT’s Corporate Governance and Sustainable Development Committee Chairman; and Mr Vitchaphol Sincharoenkul, Sri Trang Agro Industry’s Director and Sustainability Development Committee Member
Singapore, 26 August 2022 - Sri Trang Gloves (Thailand) Public Company Limited (“STGT” or the “Company”), a world-leading glove producer, has signed a memorandum of understanding (“MOU”) with world-class refractory products manufacturer Siam Refractory Industry Co., Ltd ("SRIC”), to re-purpose approximately 500 tons of STGT’s high-quality used glove formers into refractory materials produced by SRIC in 2022, and up to 1,800 tons in 2023. Such refractory materials are resistant to decomposition by heat, pressure, or chemical attack, and retain their strength and form at extremely high temperature. The project aims to give a new lease of life to the massive amounts of waste and used materials generated annually and consequently increasing its value.
The MOU represents a commitment by STGT and SRIC to align their respective business operations with the principles of the circular economy. As part of the terms, STGT and SRIC will also jointly engage in research and development, as well as knowledge-sharing on sustainable environmental management.
Mr. Vitanath Sincharoenkul, STGT’s Corporate Governance and Sustainable Development Committee Chairman said, “Sustainability is part of STGT’s DNA and at the core of our business operations, and SRIC, a verified carbon footprint refractory, is a like-minded organisation who shares our concern for the environment. We are extremely excited that this partnership will enable both companies to improve our resource efficiency even as we support the circular economy transition.”
As an alternative to the traditional linear economy, the circular economy1 aims to cut down on waste by recovering resources at the end of their product lifecycle, and channelling them back into production, thus significantly reducing pressure on the environment.
STGT has been at the forefront of sustainability with all 13 of its manufacturing facilities operating 100% on biomass energy which significantly reduces the emission of carbon dioxide and greenhouse gas. The Company recently launched a “Clean World Clean Gloves” brand campaign expressing its commitment to conduct business operations sustainably and responsibly in every step of its supply chain from raw material sourcing to manufacturing and distribution.
