ACP, situated in Melbourne, Australia, is engaged in reprocessing plastics from kerbside recycling collections and its plant has an annual capacity to sort and process over 30,000 tonnes of plastics annually
Visy acquires assets of ACP. (Credit: Sigmund on Unsplash)
Australia-based packaging and recycling firm Visy has completed the acquisition of assets of collapsed Victorian plastics recycling company Advanced Circular Polymers (ACP).
ACP, which collapsed in December last year, is engaged in reprocessing plastics from kerbside recycling collections.
The company’s plant is said to have an annual capacity to sort and process over 30,000 tonnes of plastics annually, which were then sold for reuse.
Visy CEO Mark De Wit said: “We’re not just a manufacturing company – diverting material away from landfill is at the heart of what we do.
“We’ll be on site from this week to begin the clean-up process. We are committed to processing the over 1,000 tonnes of unprocessed material on the site.”
Visy said that some of the material will be sent to its food-grade recycled plastics manufacturing site in Smithfield, New South Wales.
The facility will then convert the material into food-grade rPET and rHDPE containers.
Additionally, the Australian packaging and recycling firm has signed a five-year lease with the property’s landlord to further demonstrate its commitment to processing difficult-to-recycle plastics in Australia.
Visy also concluded a $29m multi-state initiative in 2022. The investment is intended to prevent up to 38,000 tonnes of plastics or 1.9 billion plastic bottles from ending up in landfills or being transported abroad.
In April 2022, the company announced an investment of A$700m ($500m) to expand its recycling and remanufacturing operations in Queensland, Australia.
The announcement was part of Visy executive chairman Anthony Pratt’s 2021 promise to invest A$2bn in Australian recycling and clean energy infrastructure over the present decade.
Under the plans, Visy will put A$500m to establish a new glass food and beverage container recycling and manufacturing facility in Yatala.
In addition, the firm will invest A$150m for a new corrugated box factory in Hemmant, and A$48m for modifications of its material recovery facility (MRF) on Gibson Island.