United Kingdom – Eco Plastics, the UK’s biggest supplier of recycled PET, has been sold to German investment firm Aurelius. As a result, Aurelius becomes the full owner of the Continuum recycling joint venture established with Coca-Cola two years ago, reports Plastics News.
Aurelius′ managing director Tristan Nagler comments: ′For customers, suppliers and partners it will be business as usual, and we are committed to working with the company to deliver long-term, sustainable growth.′
According to the UK company′s founder and deputy chairman Jonathan Short, the deal is ′a vote of confidence not just in the future of Eco Plastics, but in the promising future of the UK′s fast-growing recycling sector′. Working with Aurelius ′will take the Eco Plastics story to the next level′, he believes.
The company′s new owner is to inject fresh expertise and financial resources. In 2013, Eco Plastics posted a pre-tax loss of Euro 6.2 million on sales of Euro 60 million.
For more information, visit: www.ecoplastics.com