As calls on polluting materials go, they don’t come much clearer. DS Smith, the FTSE 100 paper and packaging group, has unceremoniously sold its plastics business to a private equity buyer for roughly £450 million.
In one swoop, it dispenses with a division that accounted for about 6 per cent of profit before tax and other items, but was in danger of acting as a drag on a group that has prided itself on having moved heavily into the recycling business.
The wasteful world of plastics has become increasingly tainted, as consumers look for ways of reducing their use of plastic bags and regulators prepare for potentially more restrictive legislation covering the use, in particular, of single-use disposal items made with the material.
The sale