Coral Products (Mouldings) Ltd have announced the order of a plastic recycling unit at its Haydock facility in Merseyside, which will be operational in January 2019.
Coral Products (Mouldings) Ltd is a supplier of injection moulded plastic recycling boxes and plastic food waste bins to councils and local authorities.
Plans for the recycling unit came as part of a trading update to investors which explained that the facility was possible because of changes made at the existing site in Haydock.
Coral Products Plc group has made an operating profit in each of the four months to April 2018 – which means that it will “meet the revised expectations of break-even for the current year”.
After extensive investigation Coral Products (Mouldings) Ltd took the decision to invest in the plastic recycling unit, which will contribute towards improved financial performance at the end of this financial year (April 2019).
Em Long, Marketing Manager at Coral Products (Mouldings), commented:
“We currently regrind plastic to make recycled plastic products, this will now provide opportunity to take used plastics back from customers to recycle. The pricing plan is yet to be confirmed, but this will support Coral Products (Mouldings) Ltd steps forward in creating a 360 circular economy efficient business and will reduce many issues that our customers face with their waste plastic.”
National Account Manager, Adam Thackeray said:
“In addition to taking back Coral Products (Mouldings) Ltd’s own products, we will be able to facilitate taking back a range of other plastics, providing they can be re-used in our own products.
“It is still early days for the facility, so it is difficult to expand on expected tonnages now. We have held positive discussions with local authorities, waste management companies and other companies about potentially buying back products for a fair price which we can then use in our products again.
“This can be any plastic that can be used in recreating our new products, we want to help our customers recycle their plastic and help to spread the message that if dealt with correctly and disposed of in the right way, plastic doesn’t have to be all bad.”
The facility will be based at Coral Products (Mouldings) Ltd’s Haydock site.