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
Copper Scrap View All | |
Alternator | 0.32 (0) |
#1 Copper Bare Bright | 3.76 (-0.01) |
Aluminum Scrap View All | |
356 Aluminum Wheels (Clean) | 0.73 (0) |
6061 Extrusions | 0.64 (0) |
Steel Scrap View All | |
#1 Bundle | 460.00 (-15) |
#1 Busheling | 480.00 (-15) |
Electronics Scrap View All |