A LOCAL recycling firm is celebrating after entering a partnersip with Coca-Cola to build a new £15 million facility at its Hemswell site.
ECO Plastics have announced a joint venture with Coca-Cola Enterprises Ltd (CCE) to develop a new purpose-built recycling facility - creating 45 new jobs.
The site re-opened last year after it was famously ravaged by fire in August 2009.
It is said that around 35,000 tonnes of Polyethylene terephthalate (PET) drinks bottles were reprocessed in Great Britain last year and that this new facility at Hemswell will increase this total to more than 75,000 tonnes when it is fully operational - more than doubling the amount of high-quality recycled food-grade, sustainable packaging currently produced in Britain.
ECO Plastics MD Jonathan Short said: “We have made huge strides in developing our business in recent years to become the UK’s leading plastic recycler and we are delighted to be partnering with a company of the calibre of Coca-Cola Enterprises.
“We view this pioneering agreement as the next important step for our own business and the industry as a whole.”
He added: “Having recently re-opened Europe’s largest and most technically advanced plastics recycling facility and chosen a new name for a new chapter in our growth, we are thrilled to further expand operations through this joint venture.”
CCE has signed a ten-year joint venture deal with ECO Plastics and will also be making a £5 million equity investment to support construction of the new facility, with ECO Plastics raising an additional £10 million to complete funding for the project.
CCE GB Managing Director, Simon Baldry said: “CCE is committed to transforming recycling in Great Britain. Our investment in this project with ECO Plastics will start to address the recycling challenges in this country. British PET bottles will be recycled for re-use in packaging that will be sold from the shelves of British retailers.”
The new recycling facility will be built on ECO Plastics’ current site in Hemswell, near Gainsborough and will be operational next year.