Two Mount Vernon, Ind., plastics recyclers, B&M Plastics and Plastic Recycling Solutions LLC, are expanding as a result of interest-free loans from the Indiana Department of Commerce.
B&M Plastics will invest $5.2 million to construct a 216,000-square-foot plastics recycling plant in Mount Vernon. The firm plans to hire 21 new workers for manufacturing, warehousing, distribution and clerical positions, according to B&M spokeswoman Jama Coomes.
B&M will help finance the plant with a $500,000, zero-interest loan from the state, according to a news release from the Commerce Department. The Mount Vernon-based firm has been recycling industrial scrap there since 1983.
The company will recycle 30 million pounds of engineering-grade thermoplastics annually by contract, using blenders, demetalizers and extruders, Coomes said. B&M contracts with automakers and other international markets.
The plant will start up in the next three months and reach full capacity within the year.
PRS will invest $940,660 to buy equipment, including new silos, for recycling post-industrial polycarbonate and acrylics that are used by industrial manufacturers, according to a PRS spokesman.
The company will hire nine new workers, boosting its work force to 15, and expects to recycle 4.4 million pounds of materials a year, the news release said. Its state loan totaled $443,180.
PRS, which changed hands in April, would not disclose its new owners.