https://www.engineeringnews.co.za
Africa|Business|Industrial|Packaging|Paper|Packaging|Environmental
Africa|Business|Industrial|Packaging|Paper|Packaging|Environmental
africa|business|industrial|packaging-company|paper|packaging|environmental

Mpact stops recycling PET

14th November 2019

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

Paper and plastics packaging manufacturer Mpact has decided to discontinue its polyethylene terephthalate (PET) recycling operation, in Wadeville.

The company explained in a statement on Thursday that the recycled PET selling price was below the cash cost to produce the material and would remain so for the foreseeable future.

To date, recycled PET had been sold at a discount to virgin material in South Africa to encourage its adoption and use in food and beverage packaging.

Mpact Polymers said recycled PET was sold at a premium to virgin PET in many other countries, which recognise its environmental benefit and that the total cost of production was often higher than that of virgin material.

The virgin PET price had declined significantly owing to an oversupply globally. Recycled PET selling prices in South Africa had declined in line with the virgin price decline, owing to substitutability, even though there was no shortage of recycled PET supply.

Mpact’s Polymers business segment and the Industrial Development Corporation – a 31% shareholder in Mpact Polymers – were in the process of evaluating options for the business and its stakeholders.

Mpact Polymers made a loss before tax of R43-million in the six months ended June 30.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Hanna Instruments Image
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 
Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.094 0.15s - 145pq - 2rq
Subscribe Now