PET distributor PolyQuest buys N.Y. recycling plant from Pure Tech

Published: March 14, 2013 3:01 pm ET
Updated: March 14, 2013 3:04 pm ET

Related to this story

Topics Sustainability, Materials, Recycling, Materials Suppliers

WILMINGTON, N.C. -- Distributor PolyQuest Inc. has purchased a recycling facility in East Farmingdale, N.Y., to produce recycled PET flake for food-contact applications.

The plant, operated by PolyQuest's newly-formed affiliate PQ Recycling LLC, will produce flake primarily from post-consumer PET bottles collected in the northeastern United States through bottle deposit return systems.

PolyQuest acquired the plant and assets from Pure Tech Recycling LLC.

Pure Tech, an affiliate of Chicago-based Re:Think Recycling Group LLC, ended production and began searching for a buyer last year, several months after being sued by Coca-Cola Co. for breach of contract.

The suit, filed in March 2012 in U.S. District Court in Atlanta, claimed that Pure Tech did not pay the principal on a $3 million loan from Coca-Cola Financial Corp. and that the company owed $1.99 million, plus interest, to Coca-Cola Recycling LLC.

In October, the court denied a motion filed by Pure Tech to dismiss the suit.

PolyQuest will use the flake as feedstock for downstream PET processing applications at the company's recycling facility in Darlington, S.C., according to a company news release.

The plant will produce PET pellets approved by the U.S. Food and Drug Administration for all PET applications, including bottles, sheet, strapping, fiber and filament, said Tod Durst, president of packaging resins for PolyQuest, in the release.

Durst declined requests for additional comment.

PolyQuest, based in Wilmington, N.C., bills itself as the largest distributor of PET resins in North America and one of the fastest growing recyclers in the United States.


Comments

PET distributor PolyQuest buys N.Y. recycling plant from Pure Tech

Published: March 14, 2013 3:01 pm ET
Updated: March 14, 2013 3:04 pm ET

Post Your Comments


Back to story


More stories

Image

Prices trending up for some recycled resins

July 24, 2014 1:27 pm ET

Plastics News is correcting prices for recycled grades of several commodity resins on this week's resin pricing chart.    More

PetStar doubles capacity at Mexico recycling facility

July 24, 2014 2:10 pm ET

Mexican recycling giant PetStar SAPI de CV, owned by the System of Coca-Cola Bottlers in Mexico, has doubled the capacity of its facility to 130...    More

Meredian merging with Danimer Scientific

July 24, 2014 1:59 pm ET

Bioplastics maker Meredian Inc. is merging with its sister firm, Danimer Scientific LLC.    More

Image

US Bioplastics receives funding to bring Gatoresin to the market

July 24, 2014 1:44 pm ET

Materials maker U.S. Bioplastics is hoping its Gatoresin product will take a bite out of the bioplastics market, thanks to funding from a state...    More

Image

Injection molder, recycler Polyvulc USA puts itself up for sale

July 24, 2014 12:41 pm ET

Fred Farrell and Larry Lambiotte, founders of Polyvulc USA Inc. and its subsidiaries Polyvulc Tire Recycling Llc and Winnsboro Rubber Recycling LLC, a...    More

Market Reports

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Plastics Recycling Market Review & Outlook 2014

This special report from Plastics News examines the North American plastics recycling industry and provides insight into indicators that impact market viability, including Resin pricing trends for virgin and recycled market material and historical Resin production trends for post- consumer and industrial waste.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events