By Mike Verespej | PLASTICS NEWS STAFF
STAMFORD, CONN. (MAy 24, 12:05 p.m. ET) — Nestlé Waters North America Inc. plans to build a $30 million bottle-to-bottle PET recycling plant that will produce 40 million pounds of recycled PET annually.
“I’m hoping that within a year that we’ve got a plant built,” said Kim Jeffery, CEO and president of the Stamford water-bottle firm. “I want to be up and running a year from now.”
Jeffery said the company isn’t prepared to make an official announcement yet; Nestlé and its planned joint venture partner are reviewing details, and both firms must approved the agreement. But he said the plant will “probably be located in the East Coast” and he hopes an announcement will come “relatively soon.”
Once built and operating at full capacity, the plant would supply about 10 percent of the Nestlé’s current total PET resin needs — about 440 million pounds a year. (more…)