SolPlastics LP of Montreal is building a recycled plastic and pallet manufacturing facility due to begin operating in September.
The joint venture will invest about C$33 million (US$23.3 million) in the project, SolPlastics director of sales and marketing Larry Porter said in a telephone interview. The 90,000-square-foot plant in Montreal will include nine low-pressure injection molding machines from an undisclosed supplier. The presses will be able to mold parts as large as 50 pounds, according to Porter.
SolPlastics will have plastics recycling capacity of more than 60 million pounds annually. Porter said it plans to source post-industrial and post-consumer scrap from a variety of sources, including curbside recycling programs. Although it plans to convert much of the reprocessed plastic into pallets and containers, it also wants to sell reprocessed resins into the general market. Porter said the company will use a range of materials.
SolPlastics is majority owned by Misol Technologies Inc., a Montreal firm owned by an undisclosed Venezuelan investor. Misol will own 55 percent of the venture and bring European recycling technology to the project. Labor pension fund Le Fonds de Solidarite de Quebec and venture capital firm Societe Generale de Financement du Quebec, sponsored by the Province of Quebec, will split the remaining ownership.
SolPlastics predicts it will employ 60 and has begun skills training in Montreal.