New £5m plastics recycling plant
February 25, 2009 at 11:37 am
2K Manufacturing has announced that it is to begin the development of a new plastics recycling facility. The news comes after the company received a £5 million cash injection from Foresight, which has invested heavily in a number of companies in the past, including the Closed Loop Recycling plant in Dagenham.
The plant is to be built near Watford, and is set to start production this year. Furthermore, 2K Manufacturing has indicated that it hopes to build a further 11 recycling plants at sites around the country.
The aim of the plant is to produce ‘Eco Sheets’, a plywood substitute that is made from plastic waste. The sheets are formed using a process known as powder impression moulding, and the good news is that the process makes use of plastics, including mixed plastics, in order to produce the final product.
2K has big plans for its eco product, and has stated that over the next five years, as the other plants are constructed, the company should be able to produce up to four million eco sheets a year. And it is not hanging around, with mass production billed to start as early as this July.
Andrew Page of Foresight said that “2K represents a compelling investment opportunity”, as well as indicating that it is based in “an attractive area of the environmental infrastructure market”.
And it is also great news for believers in recycling, as it manages to solve another troublesome waste issue. With demand for recyclable materials dropping in Asia, it means that more waste will be able to stay in the UK and be put to good use.
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