Taiwan Recycler Acquires Ohio-based PET Processor
Phoenix Technologies as an annual capacity to process 80 million pounds of material each year.
SEATTLE (Waste 360): A Taipei, Taiwan-based recycling producer announced its acquisition of polyethylene terephthalate (PET) recycler Phoenix Technologies International, which has a processing site in Ohio.
This marks the third acquisition of a U.S.-based production site in the last 18 months for Taiwan’s Far Eastern New Century Corp., Plastics Newsreports. According to the report, Far Eastern is self-described as the “world’s second largest recycling producer and third largest PET resin supplier.”
The report also notes that Far Eastern previously acquired a PET plant in West Virginia and a research and development center in Ohio, both from M&G after that company ran into financial problems. The most recent acquisition adds to a growing trend where virgin resin companies are taking stakes in plastics recyclers.
Taiwan's Far Eastern New Century Corp. is acquiring PET recycler Phoenix Technologies International LLC, which has a processing site in Bowling Green, Ohio.
Phoenix Technologies as an annual capacity to process 80 million pounds of material each year.
The Taipei-based company, which calls itself Far East and FENC, describes itself the world's second largest recycling producer and third largest PET resin supplier.
Courtesy: https://www.waste360.com
- Nexus Raises Stake in Nevada’s Independence Gold Project
- Full Containment Expected in North Carolina Recycling Plant Fire
- Centre County Recycling and Refuse Authority Collection Event in PA Brings in 48,000 Pounds of Household Hazardous Waste
- Greyparrot and VAN DYK Recycling Solutions Partner to Revolutionize U.S. Waste Sorting and Processing with AI
Scrap Metal Prices
Copper Scrap | ||
Alternator | 0.32 | $US/Lb |
#1 Copper Bare Bright | 3.72 | $US/Lb |
Aluminum Scrap | ||
356 Aluminum Wheels (Clean) | 0.73 | $US/Lb |
6061 Extrusions | 0.64 | $US/Lb |
Steel Scrap | ||
#1 Bundle | 460.00 | $US/MT |
#1 Busheling | 480.00 | $US/MT |
Electronics Scrap |