Technonicol acquires plastics processing plant from EcoPartners group

ROSTOV-ON-DON. Sept 24 (Interfax) - Technonicol Corporation has acquired an industrial complex from the EcoPartners group in Tver, the corporation's press service said.

The amount of the deal has not been disclosed.

The Tver enterprise includes three lines for processing PET bottles into flakes, two lines for recycling PET waste into re-granulate, and a line for the production of PET packaging tape.

Technonicol plans to allocate about 700 million rubles to modernize production in the near future. The plant should produce up to 30,000 tonnes of PET flex and up to 10,000 tonnes of HDPE granulate [a raw material made from low-density polyethylene] annually after reaching planned capacity.

Integration into the Technonicol structure will notably begin in September 2024 and end in 2025. The business processes of the organizations will be synchronized in all areas during this time. Increasing productivity will be the primary focus in developing the enterprise.

Part of the finished products from the plant in Tver will be used to provide raw materials for Technonicol's own production of PET fiber, and the rest will be used for packaging enterprises, including food.