MORRISTOWN N.J. - The Vinyl Institute is working with processors interested in expanding their recycled vinyl product lines, or entering the recycled vinyl market. Robert Burnett, executive director, said the association will lend money to companies for initial tooling costs through its ``Tool Pool'' program to commercialize new products and processes involving recycled vinyl.
``This has been available for a few years,'' Burnett said. ``We have literally talked to hundreds of companies.''
Burnett said half a dozen companies have taken loans through the revolving funds.
``All we require is a business plan and a good idea,'' Burnett said. `` Our feeling is that if we can facilitate the recycling of vinyl, that the demand will be created for the materials.''
He said the amount of the loans and repayment provisions are negotiable depending on needs of the specific companies. Since machinery is the major component of the cost of developing any new product, the loans can be used for designing and manufacturing machines.
``So far I think the largest amount that we have loaned is $10,000, which is substantial,'' he said. ``Companies need only to contact our Environmental Resource Center to get a request for proposal.''
Information can be obtained by calling the institute at (800) 969-8469. The Vinyl Institute, based in Morristown, is a unit of the Society of the Plastics Industry Inc. of Washington.