What does it mean when even high-profile recyclers struggle?
CarbonLite Industries LLC has filed for bankruptcy protection as it deals with low prices for its material and a delayed opening of a Pennsylvania plant due to COVID-19 travel restrictions.
The Riverside, Calif.-based company bills itself as "the worldwide leader in bottle-to-bottle recycling" and counts Coca-Cola Co., Nestle Waters North America and PepsiCo Inc. among its customers.
Company leaders maintain that CarbonLite can continue recycling and production without interruption and it plans no layoffs.
"Our customers, all of whom have steadily increased their commitments to the use of recycled plastic in their products, have expressed confidence in this process and our carefully considered decision," CEO Leon Farahnik said.
Seems to me it's another sign of a need to focus on the recycling infrastructure if we're ever going to make headway in bringing more post-consumer recycled material to the market in a circular economy.