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Wellman Plastics Recycling to be scooped up by Shanghai Pret

China – Chinese enterprise Shanghai Pret Composites has announced plans to acquire Wellman Plastics Recycling of South Carolina in the USA for roughly US$ 70 million.

Shanghai Pret specialises in high-end and quality modified plastics′ research, production and sales for cars while Wellman provides the automotive industry with nylon, polyester and polypropylene resin products made entirely from post-consumer recycled materials. One example of its output is the EcoLon line, which is ′not tied to the fluctuating price of oil, yet still meets all of nylon product specifications′.

Shanghai Pret says its objective is to ′expand cutting-edge technology industries all the time′. With an annual modified plastics capacity of 200 000 tonnes, the company employs more than 900 workers.

Launched in 1993, Shanghai Pret has partnerships with BMW and Ford, among many other leading players, and boasts over 160 patent applications, with 106 approvals to date.

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