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 Materials, Sustainability, 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

FTC warns bag makers to take care before making biodegradeability claims

October 23, 2014 12:30 pm ET

Makers of oxodegradable or oxo-biodegradable plastic bags should consider themselves on notice, according to the U.S. Federal Trade Commission.    More

Image

Westlake adding ethylene capacity in Louisiana

October 23, 2014 9:54 pm ET

Westlake Chemical Corp. will add 250 million pounds of annual ethane-based ethylene capacity as part of a $330 million expansion project in Lake...    More

Image

PolyOne increases quarterly profits despite falling sales

October 23, 2014 4:55 pm ET

North American compounding leader PolyOne Corp. saw its third-quarter profit increase, even as sales fell vs. the year-ago period.    More

Image

Packaging specialist Amcor hits sustainability goals ahead of schedule

October 23, 2014 11:15 am ET

Global packaging company Amcor Ltd. has achieved its waste reduction goals two years ahead of schedule, according to the company's new sustainability ...    More

Image

Total picks new management following CEO's death in crash

October 23, 2014 11:03 am ET

Total SA has picked a new management team to oversee the company in the wake of a plane crash in Moscow that killed its chairman and CEO earlier this ...    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

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

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events