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Viridor acquires plastic bottle reprocessor

Viridor has bought plastics reprocessing company Intercontinental Recycling for a cash consideration of £8.1 million.

The acquired firm, based in Lancashire, processes high density HDPE and PET plastic bottles at its facility. The plant has a capacity to treat 40,000 tonnes of recovered plastics each year.

Viridor chief executive Colin Drummond said: The UKs waste strategies demand ever-increasing levels of recycling and plastics are an important and growing part of Viridors recycling business. Intercontinental Recycling has an excellent geographic and business fit with Viridors existing operations and is particularly well-placed to receive volumes from the Viridor Laing Greater Manchester PFI. The acquisition is expected to be earnings enhancing, post amortisation of intangibles, in its first full year.

The recovered bottles are converted to pellet or flake at the plant, which is then sold on to mainly UK-based plastic manufacturers.

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