Plastics firm sells off its recycling division to newly formed company.
, an independent supplier of sacks, bags and specialty products for the storage and collection of waste and recyclables based in the United Kingdom, has sold its recycling division to newly formed company called Leopard Recycling Ltd. The sale became effective Jan. 1, 2013. Cromwell says the acquisition will ensure continuity of service both to suppliers and customers, allowing for Cromwell to continue as a going concern with no job losses.
In announcing the sale, Cromwell Polythene’s CEO James Lee says, “Recent growth of the recycling division has diverted valuable resource, both human and financial, from our mainstream business, supplying bags, sacks and ancillary storage and collection products to the away from home cleaning market and the recycling and waste management sector. We have ambitious growth plans for our core business on which we are determined to refocus all our efforts.
“We are delighted to have reached agreement with Mark Fuller, who previously ran the recycling division, and will do all we can to ensure a smooth transition to the new owners. The sale in no way diminishes Cromwell Polythene’s on-going commitment to closed-loop recycling, and we shall continue to recover packaging materials from the waste stream that can be returned to the production cycle,” he adds. “We wish Mark and his team every success.”
Speaking on behalf of Leopard Recycling, Mark Fuller, who has been named commercial director, says, “Having run Cromwell's recycling division for the past eight years I am well aware of its potential and am excited by the prospect of building on the successful foundation that has already been laid. I am particularly pleased that this will be with the team of people with whom I have worked in the past. Between us, I have every confidence in our future.”
“Although our focus will continue to be polythene, Leopard will be free to develop its own markets, trading a more diverse range of recyclable waste materials,” he adds.
Leopard Recycling will continue to trade from its Sherburn-in-Elmet warehouse, where the material is sorted, graded and baled for recycling.