Biffa has announced the completion of a deal to acquire Scotland’s only postconsumer plastics recycling facility (PRF) from Green Circle Polymers Ltd (GCP) located in Grangemouth for £10m.
The acquisition was first announced in Biffa’s FY21 full year results on June 1, 2021.
The Grangemouth facility is one of the largest PRFs in the UK and every year processes around 50,000 tonnes of plastics such as mixed plastic bottles and plastic tubs and trays so that they can be used to create new recycled plastic material.
The acquisition bolsters Biffa’s plastics recycling capability by providing more recyclable plastic feedstock in line with the Group’s strategy to quadruple its plastic recycling capacity by 2030. The facility also has the capability to sort coloured plastic material and metal cans.
This acquisition builds on our leadership position in closed-loop recycling and strengthens Biffa’s capacity to process and recycle more plastic waste in Scotland.
The acquisition comes ahead of the implementation of the Deposit Return Scheme (DRS) in Scotland in 2022, which will make it easier for residents to do the right thing and recycle their used bottles and cans, including PET plastic, metal, and glass, ultimately helping safeguard our environment.
Michael Topham, Chief Executive, commented: “This acquisition builds on our leadership position in closed-loop recycling and strengthens Biffa’s capacity to process and recycle more plastic waste in Scotland.
“As a leading enabler of the circular economy in the UK, this investment helps us support Scotland’s vision of a greener future, as it prepares to introduce the Deposit Return Scheme to reduce littering and improve recycling levels. We are delighted to welcome the Green Circle Polymers team and their customers to Biffa.”
Chief executive officer of Green Circle Polymers Limited Tom Gleeson said: “This is an exciting move and I’d like to thank the loyal customers who have supported the business over the years. I know the management and staff will make a valuable contribution to the future of the business as part of the Biffa Group.”