United Kingdom – UK-based plastics packaging film producer Re Pet is set to expand its operations after receiving further significant financial backing, including Euro 120 000 from the WRAP Accelerating Growth Fund.
The new funding means Re Pet has obtained total second round investment worth more than Euro 600 000. It is also committing Euro 2 million of its own funds to install new recycled PET (rPET) processing equipment to help double its output. The company has so far spent around Euro 960 000 on extrusion plant that sandwiches an rPET layer between two layers of virgin material.
‘We’re delighted to have secured such substantial investment which will allow the expansion of our business to be accelerated, ’ said Re Pet Managing Director John Forrest. Once the new equipment was on stream, he added that the company would be able to process 100 tonnes of material per week.
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