The pioneering recycler ECO Plastics has announced that it is looking for a buyer.
The company’s deputy chairrman Jonathan Short, below, has issued a brief statement saying further announcements will be made “if and when appropriate”.
“ECO Plastics recently initiated a sales process to provide a long-term platform for the future strategic development of the business,” his statement began.
“As part of this process, the board and existing shareholders have held talks with interested parties. The company has the support of its debtholders in achieving this goal.”
ECO Plastics is based on an industrial estate at Hemswell in Lincolnshire and was founded by Short who is also currently chairman of the Resource Association.
The site is home to Continuum Recycling, a multi-million-pound joint venture between ECO Plastics and Coca Cola Enterprises (CCE)
When the plant was opened in 2012, it more than doubled the amount of bottle-grade recycled plastic (rPET) previously created in Britain.
The 10-year partnership was notable because of its size and was the first of its kind between a major drinks manufacturer and a processor.