125 jobs saved as Lincs plastics firm sold
Some 125 jobs have been saved after stricken Hemswell-based Evolve Polymers was sold out of administration to a Welsh rival.
Clean Tech Europe part of Plastipak Packaging, has bought the loss-making Evolve which makes food grade PET (Polyethylene Terephthalate) manufactured from post-consumer recycled plastic.
Clare Boardman, joint administrator from Deloitte, said: “We are delighted with the outcome of this transaction. The sale to Clean Tech represents a highly strategic acquisition by one of Europe’s leading plastic container manufacturers and recyclers which has ensured the security of 125 jobs and continuity of business.”
Plastipak is a world leader in the design and manufacture of high-quality, rigid plastic containers for the food, beverage, and consumer products industries. Founded in 1967 and headquartered in Plymouth, Michigan, Plastipak operates more than 44 sites in the United States, South America, Europe and Asia, with a total of over 6,000 employees.
