A plastics recycler is acquiring a custom blow molder in Ontario through a deal expected to expand production.
EFS-Plastics Inc. is buying Exi-Plast Custom Moulding Ltd. of Huron Park, Ontario, in a move that "increases the market strength and stability of both organizations," EFS said.
"Having worked closely with EFS as a supplier since 2016, it felt natural for Exi-Plast to join the EFS Group of Companies," Exi-Plast President Jeffrey Lang said in a statement. "With EFS' backing, we are looking forward to increasing our production capacity and upgrading equipment over the next several months."
Exi-Plast describes itself as a "full-service provider of custom plastic molding services specializing in blow molded solutions for designers, manufacturers, and distributors worldwide."
EFS, of Listowel, Ontario, now will directly manufacture products high levels of post-consumer plastic, the company said. EFS recycles post-consumer polyethylene and polypropylene from household sources. Plastics News estimates it processes 66 million pounds of post-consumer plastics annually.
"Our investment in Exi-Plast will increase our ability to serve customers looking to improve their environmental footprint," EFS CEO Martin Vogt said in a statement. "As we closely watch action being taken by both the federal government and the private sector, we see the increasing demand for recycled content as a lasting trend."
More than 110 people in total are employed by both companies.