Recycling business acquired
Bright Green Plastics has been acquired by international manufacturer of sustainable packaging IPL Global.
The Castleford-based business which currently recycles around 40,000 tonnes of plastic waste each year and employs 130 people will join IPL and boost the Irish firm’s environmental, returnable packaging and industrial market solutions.
Following the deal IPL has said it plans to invest in equipment and innovative projects to increase the recycling capacity and capabilities of the business which will continue to operate under the existing management team.
Ian Farquhar, UK managing director at IPL Global said: “We are delighted to have Bright Green Plastics as part of our network of businesses. Our shared values, coupled with impressive breakthroughs in the development of recycled polymer formulas for a wide variety of applications, meaning that together we can offer sustainable solutions the market is looking for.
“It’s this passion and commitment to innovation that first attracted us to the company, and we’re excited to see the value that Bright Green Plastics is set to bring to our business as we, in turn, contribute to its ongoing growth and success in the worldwide marketplace.”
Steve Spencer, general manager at Bright Green Plastics added: “Anyone that comes across our business knows we are passionate about plastic recycling.
“This acquisition will provide the global assistance to accelerate significant technical developments, ensuring as much recycled plastic as possible is ploughed back into the manufacturing cycle, whilst lessening reliance on virgin plastic.”
