Advanced Environmental Recycling Technologies, Inc. announced financial results for the year ended Dec. 31, 2003. Net sales were $43.5 million compared to $41.4 million in 2002 -- an increase of 5.1 percent. Net loss before extraordinary item for the year ended December 31, 2003 was $941,921 compared to net income of $915,250 for the prior year.
“The company has experienced significantly higher petrochemical related raw material costs this year as compared to prior periods. Our company’s previous inability to recycle the majority of our scrap plastics in-house hurt margins and reduced profits significantly this past year. AERT has initiated a program designed to significantly increase in-house plastic recycling capacity at our Springdale, Ark., Lowell, Ark., and Alexandria, La. facilities, in order to reduce raw material costs during 2004,” stated Joe Brooks, AERT chairman.
“In addition, the company’s Junction, Texas facility is currently undergoing rebuilding and additional composite production which should commence by June. Additional information will be forthcoming in the near future.”
Latest from Recycling Today
- 2026 Plastics Recycling Conference: Diving into SB 54
- Commentary: Plastic recycling isn’t working; what are we going to do about that?
- Environmental groups urge Indonesia to return e-scrap shipments
- Foodservice Packaging Institute opens applications for 2026 foam recycling grant program
- Worn Again Technologies unveils Accelerator plant to advance polycotton recycling
- Nashville Waste Services launches new digital route system
- Arconic expands in Iowa
- Cascades invests $6.9M in recycled boxboard plant
