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

Latvian plastics recycler Nordic Plast boosts capacity

September 16, 2014 10:15 am ET

Latvian plastics waste recycler Nordic Plast Ltd. has invested more than 2.5 million euros ($3.2 million) to expand capacity and modernize production ...    More

Image

Sabic, Chinese Academy of Sciences sign five-year development agreement

September 15, 2014 11:54 am ET

Ties between one of the world's biggest oil producers and one of its biggest consumers grew tighter Sept. 12 with the announcement of a five-year...    More

Image

BASF analyzes products based on sustainability potential

September 15, 2014 11:48 am ET

Chemicals giant BASF SE has created a new process for managing its product portfolio based on sustainability criteria.    More

Hungarian recycler launches new unit

September 15, 2014 10:59 am ET

Hungarian plastics recycler Polyter-Mix kft has launched a new 1,400-square-meter production hall at a site in Körösladány in southeastern Hungary.    More

Image

China's Zhongtai Chemical calls off large-scale PVC project

September 12, 2014 2:16 pm ET

Accepting the gloomy reality of the PVC market, Xinjiang Zhongtai Chemical Co. Ltd. has officially canceled a 800,000-ton PVC resin project and instea...    More

Market Reports

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

Thermoformed Packaging 2014 Market Review & Outlook – North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

Upcoming Plastics News Events

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

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

More Events