Duluth, Ga., recycler U.S. Plastics Recovery has a good story to tell about how it started operations just before the start of the Great Recession, but it still managed to thrive. Plastics News staff reporter Mike Verespej shared the story last year. Now the company is getting another moment in the spotlight. This week U.S. Plastics Recovery is featured in The Wall Street Journal's "Small Business, Big Innovation" competition. Steve Hogan, one of the firm's co-founders, tells the WSJ blog that the industrial plastics recycling company "was nearly swept under by the world-wide recession which hit in the fall of 2008. Our inventory was devalued by 90 percent and our sales fell by 70 percent in the first few months following the global collapse." The company decided the only way to survive was to buy all the scrap it could at low prices, and wait for demand to pick up. "To do this, we needed to raise capital, buy additional processing equipment and move into a larger facility. If we could implement this strategy quickly, we would leapfrog the competition," Hogan said. Check the competition website for more stories about small businesses that are trying to innovate their way out of the recession. Eventually the newspaper will pick a company to feature in its Nov. 21 Small Business report.
Recycler featured in WSJ innovation contest
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