January 24, 2014
Plastics recycler MBA Polymers Inc. has announced what it called a "multi-million pound" investment to expand its operations in Worksop, England.
The unspecified sum has been injected into the business by the company's nine investors and joint partners, who include a number of investment firms and recycling businesses.
Nigel Hunton, MBA Polymer's chief executive, said the injection of funds was "a sign of real confidence in our business going forward."
The new money would enable the group to complete improvements, enhance operational performance and extend capacity at its Worksop plant.
Hunton said the company would see an increased amount of shredded plastic waste from cars, thanks to the coming on-stream of a new plant run by its partner, European Metal Recycling Ltd.
The result would mean MBA getting more raw material for its end product of recycled plastic, Hunton said.
"Taking these moves together, we expect that during the year we will be able to expand production, increase efficiency and expand capacity.
"2014 is looking very positive for MBA Polymers with some great opportunities in front of us," he added.
MBA is based in Richmond, Calif., although the firm has announced plans to move the headquarters to Worksop. Though based in the United States, most of MBA's work has been done overseas. The company also has reprocessing plants in Austria and China.