MKA Subsidiary Opening New Recycling Plant

Sancon Recycling, a subsidiary of MKA Capital Inc., announced plans to open a new plastics recycling plant in Australia. The facility, to be located in Sydney, is expected to be operational by this coming September.

The goal of the new facility, which will be around 2,500 square meters, will have a production capacity of around 2,000 tons of commercial and industrial plastics a year. The material will be shipped to China, where scrap plastics is in high demand.

Sancon operates a plastics recycling facility in Melbourne, Australia, which has an annual capacity of around 25,000 tons of plastic a year.

The company also announced that it has set up a new subsidiary in Hong Kong that will be geared to handle the increased amount of scrap plastics that is being shipped from the United States to China. The trading office will be headed by Chen Guanglian, Sancon's vice president of China Operations. The office is expected to handle around 5,000 tons of scrap plastics a year. The new office will compliment the company’s other trading company, headed by Jimmy Yiu, Sancon's executive director, which handles around 20,000 tons of material a year.

Along with these expansions Sancon announced that it has established partnerships with with Chinese local companies to set up three processing plants in China to exclusively process materials imported by Sancon's trading arms. The plants are based in cities of Dongguan, Shenzhen, and Conghua. They are all located in the Guangdon Province of China. The combined processing capacity is expected to be 8,000 tons a year.

"These major initiatives taken by the management team in the past two months demonstrated our commitment in making Sancon one of the largest players in the recycled plastic industry in China and the rest of Asia. The new processing plants and trading facilities will enable us to better capture the existing demand from our customers in China," comments Jack Chen, CEO of the company. "The management is confident that Sancon's business will benefit strongly with the raising environmental awareness and China's growing needs for manufacturing materials."