Plastipak Acquires Business Assets of Evolve Polymers Ltd.

Plastipak Packaging, Inc., a leading global manufacturer of rigid plastic packaging as well as virgin and recycled plastic resin, is pleased to announce that it has completed the acquisition of the business assets of Evolve Polymers Ltd.

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Evolve is one of Europe’s leading plastics recyclers, based in Hemswell Cliff, United Kingdom.

Plastipak’s global recycling operations currently recycle billions of bottles per year, and the site being acquired has the capacity to process an additional 6-9 billion PET bottles into food-grade and other high quality material. The business will begin operating immediately under Plastipak’s ownership. Contracts with Evolve’s existing key business partners have been secured for continued effect.

“Evolve’s prior owners invested significant resources to build the Hemswell Cliff site starting in 2006, and the business’s performance benefited from continuous improvements”, said Martin Hargreaves, Managing Director, Plastipak Europe. “We currently operate plastic recycling operations in the U.S. through our Clean Tech subsidiary, and in France and Luxembourg for our European customers. This acquisition complements our existing recycling businesses, and amplifies our ability to bring our world-class technologies and know-how to better serve our UK and European-based customers.”

Frank Pollock, President of Plastipak’s International Operations and Chief Commercial Officer, stated that “We are excited to begin collaborating further with the management and associates formerly employed by Evolve to provide more eco-friendly plastic packaging to consumers. We have been a pioneer in the plastic recycling industry, and recycling is one of our core organizational capabilities. PET is already among the most recycled materials in the global regions in which we operate, and increasing the use of rPET in Plastipak’s products makes plastic an even better choice for consumers, the community, and the environment.”

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