Australian packaging and recycling company Visy has announced the acquisition of assets of collapsed plastics recycling company Advanced Circular Polymers (ACP).
This strategic move is set to bolster Visy’s recycling operations and prevent a significant volume of hard-to-recycle plastics from ending up in landfills.
Based in Melbourne, Australia, ACP specialised in reprocessing plastics collected from kerbside recycling, which was then sold for reuse.
The company’s facility had an annual processing capacity exceeding 30,000 tonnes.
Visy CEO Mark De Wit said: “We’re not just a manufacturing company – diverting material away from landfill is at the heart of what we do.
“We’ll be on site from this week to begin the clean-up process. We are committed to processing the over 1,000 tonnes of unprocessed material on the site.”
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Further demonstrating its commitment, Visy has entered into a five-year lease with the property’s landlord.
In October last year, Visy opened a new corrugated cardboard box facility in Queensland, Australia, which is capable of manufacturing up to one million boxes per day.