UK: Coca-Cola Enterprises to invest in recycling plant
CCE has signed a ten-year joint venture deal with Eco Plastics that guarantees an annual supply of rPET to the company
Coca-Cola Enterprises (CCE) has lined up a US$8m investment into what it claims will be Europe's largest recycling plant for plastic bottles.
The Coca-Cola bottler said earlier today (7 March) that it will spend GBP5m (US$8.2m) on the facility, to be based in Lincolnshire in the UK, as part of a joint-venture with UK-based recycling firm Eco Plastics. The site will more than double the production of recycled PET (rPET) in the UK, CCE said.
Eco Plastics will invest an additional GBP10m to complete funding for the project.
The facility is expected to increase the total number of reprocessed bottles for the UK from 35,000 last year to 75,000 when it is fully operational in 2012. Around 30 jobs are expected to be created once the site is completed.
The plastics reprocessing plant will supply CCE with enough UK-sourced rPET to achieve its target of including 25% rPET in all its plastic packaging in the UK by 2012.
"Our investment in this project with Eco Plastics will start to address the recycling challenges in this country," said CCE's UK managing director, Simon Baldry. "British PET bottles will be recycled for re-use in packaging that will be sold from the shelves of British retailers."
As part of the deal, CCE has signed a ten-year agreement with Eco Plastics that guarantees an annual supply of rPET to the company.
Last month, CCE used the CAGNY investment conference in Florida to reiterate its full-year earnings outlook and set out its growth plans for 2011.
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