Guanwei Recycling Signs Deal with German Recycler

Guanwei Recycling Corp. has concluded a long-term supply agreement with TM Recycling GmbH, a German recycling company for a minimum of 10,000 tons of plastic waste per year.

The waste will be converted to recycled LDPE at Guanwei's facilities in Fuqing City, China, which are audited by TUeV Rheinland Cert GmbH to ensure that Guanwei complies with Germany's strict pollution and environmental standards, the highest in the industry.

"Guanwei's ability to procure nearly all of its waste supply in Europe (mainly Germany, Holland and Spain) by adhering to the highest environmental standards provides us with a distinct pricing advantage versus our competitors, and locking down our raw material supply is the key to continuing growth given the strong demand for our products," says Chen Min, CEO of Guanwei. "As such," he added, "we are quite pleased to have cemented this tie with our newest high quality European supplier, and look forward to a long and mutually productive relationship."

Christian Mensing, CEO of TM Recycling, says, "Guanwei is a quality company in the largest recycled plastic market in the world. It not only has regularly met the highest environmental standards in the industry, but has built strong credibility as a reliable partner with its demonstrated manufacturing capabilities and a long track record of timely payments. It is a pleasure to enter into a long term cooperation with them that we hope to continue to build upon, with the continuing strong growth potential we envision for recycled LDPE in China."