AWS Eco Plastics has changed its name to Eco Plastics. In a release announcing the name change, the company says its new name and brand identity marks a new chapter of growth for the business. The change comes less than four weeks after the company officially re-opened its Hemswell, U.K., plant following a fire in the summer of 2009.
Eco Plastics says its £17 million (US$26.3 million) sorting facility, with a capacity of 100,000 metric tons, is the largest and most sophisticated plant of its kind in Europe. The company says it has plans to expand its operations and is raising £15 million in funding. By the middle of 2011 the management team expects the plant will process 140,000 metric tons of scrap plastic per year, roughly half of the U.K.’s national total.
The company adds that the rebrand reflects Eco Plastics’ growing focus on food-grade recycled PET (R-PET). Eco Plastics says demand for R-PET has increased sharply in light of major beverage brands increasingly looking to tackle their carbon footprints through the use of sustainable packaging.
Following its expansion, Eco Plastics will produce roughlu 40,000 metric tons of food-grade R-PET per year, slightly less than 90 percent of the domestic total, according to the company.
Peter Gangsted, chairman of Eco Plastics, says, “We’re delighted to unveil the new Eco Plastics brand. The new name kick-starts an exciting phase for our business, centered on the huge growth potential of the U.K. sustainable packaging market.”
He adds, “This announcement is a reflection of the progress that we have made in establishing ECO Plastics as the European market leader over the last five years. But it’s also a statement of intent. Having recently reopened our plant, we’re now already looking at expansion plans that will make us a world leader.”
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