Greystone Logistics said that it has set up a recycled polyethylene resin manufacturing division at its Bettendorf, Iowa recycling facility in the US.
The US plastic pallets manufacturer said the new unit with a six inch polyolefin extruder will have an annual capacity of 14.6 million pounds of materials.
Greystone said it is planning to install second and third extruders in the second quarter of 2010 and first half of 2011 respectively.
The proposed second and third extruders will increase the company's annual production to 29.2 million pounds and 43.8 million pounds of polyolefin, the company said.
Greystone completed a shipment of $250,000 in reprocessed resin and anticipates $4m in gross sales from resin in 2010.
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