Indiana Company Receives Loan to Expand Recycling Program

The Indiana Department of Commerce’s office of Energy Policy awarded Anco Products Inc., an Elkhart, Ind.-based company, a $165,000 Recycling Promotion and Assistance Fund loan. The loan, the second the company has received from the state, will go toward the company’s plan to expand its fibrous glass insulation manufacturing facility, which uses recycled textile continuous filament fibers.

The award will allow the facility to increase the amount of E-glass it can recycle by 2,000 tons.

The RPAF loan funding will be used to upgrade the company’s forming and shredding section of its Textrafine insulation line. This $330,000 improvement project will save 6,000 million BTUs annually and create three new jobs. Anco continues to grow and update its production lines to increase its recycling capacity. The first RPAF loan, awarded to the company in 2000, aided the company in upgrading and expanding existing operations. This second loan will continue that process.

The Recycling Promotion and Assistance Fund helps Indiana businesses in expanding current production capabilities or implementing new manufacturing processes to make recycled-content products or industrial feedstock. Zero-interest loans of up to $500,000 ($1 million for successful companies wishing to expand in Indiana) are available per applicant, not to exceed 50 percent of eligible project costs, to purchase equipment needed for this manufacturing process.