Since the change of ownership in January 2024, QC Polymer, a PET recycling company based in the West Midlands, has announced plans for significant growth that include scaling up the business to achieve a £100m turnover within the next five years.
Indian company Mysore Petro Chemical acquired a majority shareholding - 75% of the shares - in the Bilston-based business in January. The remaining 25% is currently held by QCP Investment Group, Ltd .
The envisioned growth, said managing director of QC Polymer, Arpan Dhanuka, a former analyst researcher with Invest India and analyst with Rothschilds, will be achieved, amongst others, through partnerships with local councils, waste management companies and major brands. By working closely with partners, the recycler can tailor its services to meet specific needs and co-develop innovative recycling solutions.
“Our five-year vision is underlined by the ever-increasing, global demand for recycled PET,” Dhanuka said. “We look forward to working with companies and organisations which share our vision.”
Considerable investment is being made in state-of-the-art recycling technology to promote a more efficient recycling process to produce high-quality recycled materials that can be utilised by manufacturers looking for sustainable raw materials.
The company has developed a process to produce rPET that is virtually indistinguishable from virgin PET in terms of performance. Along with improved technology, the company has underlined its sustainability commitments, putting them at the core of its business model.
“Our sustainable commitments are evident in the significant investment we have made to advance our recycling technologies used to create a polymer that is rivalling virgin PET,” said Dhanuka.
The company is seeking investment which will support its growth and sustainable ambitions.