Closed Loop to open numerous new recycling facilities

• Posted On: 30/07/2010 09:05:50

• Category: Recycling news

After hiring financial advisors to help them raise £30 million, plastics waste management and recycling firm Closed Loop are reportedly planning to open a number of new recycling facilities in the UK.

Closed Loop already owns and manages a facility in Dagenham in East London, and construction has started on a new plant in Deeside to be opened at the end of 2011. Once opened, this new facility will have the capacity to reprocess up to 50,000 plastic bottles a year.
However, this is just the start of the company’s plans, as MD Chris Dow explains:

"We are looking for up to five plants and they would be situated throughout the UK to ensure that we are able to regionally close the loop."

Closed Loop have subsequently hired financial advisors to help them raise £30 million to fund their plans for expansion.

Mr Dow believes that the firm’s use of innovative technology and the environmental benefits of their industry will prove attractive to investors. He said:

"All we need now are the right incentives from government to support our industry further, develop the next generation of low carbon jobs and make the positive changes for the environment we are striving for."