A Welsh plastics reprocessor which claims to have the UK’s largest capacity PET reprocessing plant has gone into administration.
PSL, based at Pontllanfraith near Caerphilly, describes itself as “a groundbreaking collaboration between the experience of the private sector and the innovation of the community sector” with the support of the Welsh Assembly Government and the Charity Bank.
A notice on the company’s official website, headed ‘In Administration’ reports that David Hill and Peter Richard Dewey were appointed joint administrators on 1 February.
It adds: “The affairs, business and property of the company are being managed by the joint administrators, who act as the company’s agent and contract without personal liability”.
Elsewhere on the website, PSL says its plant is currently the largest capacity PET reprocessing plant in the UK: “Working on the premise that ‘householders and business in Wales and the UK will wholeheartedly support high-quality recycling when they can see high value materials being re-created to support UK industry and UK jobs’ the PSL facility is a strategic investment in the plastics supply chain for Wales, the West Midlands, and the West of England.”
PSL’s chairman is Mal Williams, a prominent supporter of social enterprise groups in community economic regeneration and chief executive of Cylch - the Wales Community Recycling Network - and a director of CRNUK.
In March 2011, MRW reported that PSL had signed a major contract to supply material to packaging specialist Signode.