Chinese Plastics Recycler Inks Deal with German Firm

Guanwei Recycling Corp., a manufacturer of low density polyethylene (LDPE) based in China, has entered into a sales contract with the German recycling company Sunshine Handels & Consulting GmbH, for the purchase of 25,000 tons of LDPE waste through next June. The plastic waste supplied will be converted into recycled LDPE at Guanwei's facilities in Fuqing City. The facility is audited by TV Rheinland Cert GmbH to ensure that Guanwei meets Germany's pollution and environmental standards.

"We are extremely pleased to enter into this agreement with Sunshine Handels and Consulting, a European supplier of high quality waste, and look forward to a long and mutually prosperous relationship," says Chen Min, chairman and CEO of Guanwei.

"With the strong demand we are seeing for our products, the ongoing strengthening and diversification of an assured long term European raw material supply is essential to maintaining our rapid growth and the significant quality and pricing edge we believe we have over competitors. We therefore will continue to work hard to grow our supplier relationships and to maintain the highest possible 'green' standards in all phases of our operations. We fully anticipate maintaining our industry leadership in this regard and building on the success we have achieved to date in the world's largest recycling market," Min adds.