Allentown, Pa.-based IPC Acquisition Inc. received a $300,000 loan from the state's Recycling Incentive Development Account to buy equipment for developing a municipal waste recycling system. IPC compounds and distributes plastic resins to customers throughout the United States. It came under new management May 1. According to Blair Manning, plant manager and vice president, once the management had a letter of intent to purchase the firm, it set out to secure the funds necessary to implement the $1.2 million project.
IPC will buy recycling equipment such as grinders, conveyers and washers. The firm will work with waste collectors within a 50-mile radius of Allentown, buying recyclable plastic. The company hopes to start recycling by the end of July.
About 20 employees will be added and the firm may add on to its 160,000-square-foot facility to accommodate the equipment.
IPC will buy baled plastic including 2-liter PET bottles, detergent containers and milk jugs. The resulting pellets will be sold to a broad customer base.
``We have customers who are anxious to receive 10-25 percent post-consumer recycled material,'' Manning said.
As a result of the business, IPC will add three compounding lines. The company has six lines now and 35 employees.
Last month, IPC was approved for $2 million in tax-exempt financing from the state's Economic Development Finan-cing Authority. The firm is using the money to acquire land, renovate the facility, and upgrade and purchase equipment.