Polish recyling business Geotrans S.A. has announced plans to set up a new plant which is to make regranulate from recycled plastics.
"The final decision regarding the implementation of the investment to buld a regranulate production facility will be taken by the company following a successful completion of two stages of the feasibility study," the manufacturer said in a filing to the Warsaw Stock Exchange (WSE).
As part of the process, Geotrans has launched a trial regranulate process in partnership with an unnamed recycling business, the statement said. To complete the first phase of its project, Geotrans says it purchased 4 tonnes of plastic waste. Under the plan, the second stage will see Geotrans expand its product and service portfolio with plastics collection, recycling and making regranulate.
The amount of the planned investment was not disclosed by the Polish firm. The regranulate will be sold to local plastics processors.
Set up in May 2008, the company is based in Wrocław, in Poland's south-west. In August 2015, Geotrans went public on the stock exchange's New Connect index which features start-ups and smaller businesses.
In the first half of 2015, Geotrans posted revenues of about PLN 3.1m (€740,000) and a net profit of PLN 930,000 (€220,000). The firm says it aims to significantly increase its revenues in 2016.