Fri, 03 Feb 2012 | ADMINISTRATION
Administrators are looking for a buyer for PSL, one of the UK’s largest capacity plastic recycling companies, after it called them in this week.
The business, which is based near Pontllanfraith near Caerphilly in South Wales, specialises in the processing of waste plastics collected by local authorities. It claims to have the largest capacity PET reprocessing plant in Britain.
The company issued a statement on its official website on Wednesday, 1 February, outlining the news, and stating that the business was in the hands of David Hill and Peter Richard Dewey, from the Cardiff office of Begbies Traynor.
PSL describes itself as “a groundbreaking collaboration between the experience of the private sector and the innovation of the community sector” and has received significant support from the Welsh Assembly Government and the Charity Bank, according to Materials Recycling Week magazine.
The business describes its facility as “a strategic investment in the plastics supply chain for Wales, the West Midlands, and the West of England”, and runs the pioneering Cleanstream® high quality source-separated collection systems.
The company’s chairman, Mal Williams, is also chief executive of Cylch, the Wales Community Recycling Network, and has been an active supporter of social enterprise groups for a number of years.
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