Hi Technological Plastic Industries PLC (HTPI) reports continued growth in demand for high-quality recycled plastic. In order to meet this increasing demand, the company is looking for additional investors to expand production capacity, as well as to obtain necessary pre-financing of production by purchasing larger quantities of raw materials cost-effective.
Worldwide demand of recycled plastics has been heavily increasing, which has driven the market into improved recycling methods, new production processes, and thus a higher quality of recycled plastics which has led to the use of recycled plastics in a lot of new areas.
An important factor for industry is the environmental focus and the waste of resources by using new plastics. This is forcing major consumer goods manufacturers to tackle this challenge and to use more environmentally friendly, i.e. recycled and recyclable plastics in new areas. Recently the “Welt” reported on the increased use of recycled plastic at Adidas, which even promised a “complete changeover to 2024”, as well as the mineral water brand “Evian”, which belongs to the consumer goods manufacturer Danone, announced 100% of its plastic bottles by 2025 are to use recyclable plastics.
“We are following the changes in the plastic industry positively and closely and have focus to obtain the financing for expanding the production to serve the increasing demand”, said Rana Kashaf Shahzad, Chairman of Hi Technological Plastic Industries LLC.
SOURCE: Hi Technological Plastic Industries PLCCopyright 2018 PR Newswire. All Rights Reserved