Biffa plans £15m PET recycling plant

Biffa CEO Michael Topham
22.11.2018 − 

The British waste management company Biffa plans to invest up to £15m in the construction of a recycling plant for PET bottles. The facility is to produce up to 25,000 tonnes per year of food-grade material. Biffa CEO Michael Topham said that Biffa was among the "proven players in this space" and that the company was "excited about further growing our operations in this critical area of our industry". Biffa made the announcement on Wednesday at the release of its financial results for the financial half ended 28 September.

According to Biffa, the plant new plant will take 18 months to be completed and commissioned. No information was released as to the location of the facility. The company said it was considering "potential joint venture parties to collaborate on the project if this is mutually beneficial". Among the partners under consideration was a packaging group with whom Biffa already has a relationship, Mr Topham told analysts during the presentation of the company's interim results.

During the first half of the financial year, Biffa improved its net revenue excluding landfill tax by 4 per cent to £501.8m (ca. €566m). Statutory operating profit dipped by 14 per cent to £34.8m. Net profit stood at £19.0m and with that was down nearly 20 per cent in annual comparison.

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