Finance sourced locally has helped an innovative plastic recycling facility get up and running in Erdington.
State-of-the-art machinery designed in the UK has been installed by Recycled Polymers at Hastingwood Industrial Estate in Erdington in a bid to slash energy costs..
The company, headed by Grant Gerry, recycles plastic waste from industry turning it into pellets ready for use in plastics moulding and extrusion processes.
Recycled Polymers has attracted investment of more than £750,000, the funding coming via investment from Mr Gerry himself and the other directors, in addition to finance from HSBC Commercial Finance and Close Brothers.
The company already employs six people and says it expects to create up to a further nine new jobs by the end of next year .
The new business is being mentored and chaired by serial entrepreneur Andrew Selby, a Henley-in-Arden man, who has successfully built up and sold a number of businesses over the last four decades.
Recycled Polymers has already won contracts to recycle the waste from specific industry users back into their own manufacturing environment, classed as service work.
Mr Gerry, who has spent over two decades in recycling said breaking new ground in energy efficiency had helped the company get off to a good start.
“Our plant consumes 60 per cent less electricity than older machinery as well as being faster and cleaner in its operations,” he said.
“We are equipped to recycle with high quality standards, but using lower energy input, and this combination is a real asset to our business.
“We will be able to meet customers´ needs effectively while reflecting energy cost savings in the price of our output.
“Recycling has never been higher on the agenda for business and the environment as a whole.
“Businesses that use recycled materials are showing their environmental credentials as well as meeting their production needs economically at a lower cost.
Mr Selby said: ““Recycled Polymers is following in the steps of industry giants such as Biffa in investing in plastics recycling, but we have a real competitive advantage in our new plant for the niche sectors we have chosen to specialise in.
“We plan to grow this business rapidly because we are convinced of the urgent and increasing environmental demand for efficient quality recycling and the market opportunities for recycled materials.”
The finance director of the new business is Michael Leyland, who has played a similar role in a number of Mr Selby’s businesses, and who has also built up and sold a successful business in his own right.