19 July 2011 15:22 [Source: ICIS news]
LONDON (ICIS)--UK-based bottle recycling firm ECO Plastics has raised £24m ($38.7m, €27.3m) to drive expansion plans at its recycling facility at Hemswell in the ?xml:namespace>
The expansion at the Lincolnshire facility, which was given planning approval in May, will increase its plastic bottle processing capacity from 100,000 tonnes/year to 140,000 tonnes/year, just under half the total collected in the
The expanded facility will become fully operational in 2012, it added.
“We will recycle used British packaging in
In March, ECO Plastics entered into a joint-venture with drinks manufacturer Coca-Cola Enterprises to develop a new purpose-built recycling facility at its site in
The funds will support the construction and operation of an expansion to ECO Plastics’ existing plastics processing plant, as well as provide the investment required to build and operate the joint-venture business that will supply recycled polyethylene terephthalate (R-PET) to Coca-Cola for soft drinks packaging over the next 10 years, it said.
($1 = £0.62, €1 = £0.88)
For more on R-PET visit ICIS chemical intelligence
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