EFS-plastics acquires Exi-Plast Custom Moulding
EFS-plastics Inc., a postconsumer plastic recycler based in Listowel, Ontario, has acquired Ontario-based Exi-Plast Custom Moulding, a plastic manufacturer with a focus on custom blow molding services. EFS-plastics focuses on producing high-quality postconsumer polyethylene and polypropylene resin from household collected recyclables.
According to EFS-plastics, the acquisition will increase the market strength and stability of both organizations, which provide more than 110 jobs in Huron and Perth counties in Ontario. EFS-plastics says both companies will continue to operate under their organizational structures and will build on their existing base of suppliers and customers.
EFS-plastics President and CEO Martin Vogt says the companies will operate as “separate business units, retaining their organizational structures.” He adds, “Through its joint venture partnership with Inteplast Group, EFS-plastics looks forward to supporting Exi-Plast as it grows its business.”
EFS-plastics did not disclose any additional terms of the transaction.
“Having worked closely with EFS as a supplier since 2016, it felt natural for Exi-Plast to join the EFS group of companies,” says Exi-Plast President Jeffrey Lang. “With EFS’ backing, we are looking forward to increasing our production capacity and upgrading equipment over the next several months.”
EFS-plastics reports that the acquisition fits into its mission to reduce plastic waste by replacing the use of virgin plastic with high-quality, low-carbon recycled plastic. By purchasing Exi-Plast, EFS can manufacture finished products with high levels of postconsumer recycled plastics for its consumers.
“Our investment in Exi-Plast will increase our ability to serve customers looking to improve their environmental footprint,” Vogt says. “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.”
PreZero expands its presence in South Carolina
PreZero US Inc., headquartered in Los Angeles, says it plans to invest $11.5 million in a facility in Westminster, South Carolina, that will have the capacity to process 40,000 tons of plastic scrap per year.
PreZero US tells Recycling Today that the Westminster facility was once owned by ACI Plastics, which had been one of the company’s strategic partners. PreZero US says it will no longer be in partnership with ACI Plastics and that it is investing to improve the facility to meet its production goals.
The facility will feature equipment to process plastic scrap into high-quality recycled resins. PreZero US is renovating and refitting the facility with new equipment to accommodate additional lines to meet the growing demand among U.S. manufacturers for postconsumer recycled content.
In its first two phases of development, PreZero US plans to process polyethylene, polypropylene and low-density polyethylene at the Westminster facility. The company says it will consider adding processing lines for additional materials in the future, depending on business needs.
According to a news release from the South Carolina governor’s website, PreZero plans to source mixed rigid plastics from material recovery facilities in the region as well as flexible packaging from businesses, such as warehouses and distribution centers. The expansion is expected to be completed by the fall of 2023 and will add 32 jobs to the area.
PreZero US has had a presence in the Oconee County area of South Carolina since 2019. The company says, “As we have integrated into the community, we have come to see the value in developing here as we look to have a presence and service every major region in the U.S.”
Hernan de la Vega, chief executive officer of PreZero, says, “We have been operational since 2019, and this is only the beginning. We have made significant investments into the region, and we are happy to provide stable, long-term employment opportunities for the surrounding community that will allow us to grow together.”
Explore the November 2021 Issue
Check out more from this issue and find your next story to read.
Latest from Recycling Today
- Indiana county awarded $65K recycling grant
- Mixed paper, OCC prices end year on downward trend
- Updated: CAA submits final draft program plan in Oregon
- Enviri names new president of Harsco Environmental business
- Survey outlines ‘monumental challenge’ of plastic packaging collection in UK
- Nippon Steel acknowledges delay in US Steel acquisition attempt
- BASF collaborates to study mechanical plastic recycling
- Commentary: navigating shipping regulations for end-of-life and damaged batteries
