25th Nov 2013 15:24
LONDON (Alliance News) - Environmental Recycling Technologies PLC Monday said it has signed a commercial agreement with Axion Recycling Ltd under which Axion will produce bespoke blended recycled plastic material for use by Environmental Recycling Technologies' licensees.
In a statement, Environmental Recycling Technologies said the deal will allow its licensees to focus on manufacturing Powder Impression Moulding products by ensuring the consistent supply of quality-assured recycled plastic material to those licensees. Axion will be the preferred source of supply of recycled polymers for Environmental Recycling's licensees in the UK.
The news follows Environmental Recycling's announcement last Friday that its UK licensee, 2K Manufacturing Ltd, went into administration. 2K Manufacturing produced flat sheet product Ecosheet under licence in the UK using Environmental Recycling's technology.
It has other licensees in Europe, North America, the Middle East and Africa using its Powder Impression Moulding to produce items like wet room floor formers, barge covers and anti-ballistic products.
Shares in Environmental Recycling were trading up 3.8% at 0.571 pence Monday afternoon.
By Hana Stewart-Smith; [email protected]; @hanassallnews
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