MONTREAL — Sol Plastics LP recently opened a recycled plastic and pallet manufacturing facility in Montreal.
The facility represents an investment of about C$33 million (US$21.8 million). The 100,000-square-foot plant uses low-pressure injection molding to make pallet components from post-consumer and post-industrial plastics sourced in the province of Quebec, the United States and Europe.
The company said in a news release that it has capacity to make a million plastic pallets a year, making it one of the largest such operations in the world. When Sol announced the project in March, it estimated it would have plastics recycling capacity in excess of 60 million pounds annually.
Sol is 55 percent owned by Misol Technologies Inc., a Montreal company owned by an undisclosed Venezuelan investor, which brings European recycling technology to the project. Province of Quebec-sponsored venture capital firm Sociale de Financement du Quebec and labor pension fund Le Fonds de Solidarite de Quebec each own 22.5 percent of the venture. The operation employs about 60.
