Cromwell Recycling, the recycling division of Leeds-based refuse sack supplier Cromwell Polythene has been purchased by newly-formed waste export firm Leopard Recycling Ltd.
The purchase, which will be effective from January 1 2013, has been lead by now former Cromwell Recycling director Mark Fuller, who has formed Leopard Recycling alongside the director of Oldham-based plastics exporter 99p Recycling, Sky Li. 99p Recycling was set up in 2007 and exports the majority of its material to the Far East.
Leopard Recycling will continue to trade from Cromwells Sherburn-in-Elmet warehouse, where material is sorted, graded and baled for recycling. All Cromwell Recycling staff will be retained as part of the deal.
Cromwell Polythene says that the deal is a win-win for both companies, as it is able to focus on its core business, which is the supply of sacks, bags and speciality products for the storage and collection of waste and recyclables.
Resource
Cromwell Polythenes chief executive James Lee said: Recent growth of the recycling division has diverted valuable resource, both human and financial, from our mainstream business, supplying bags, sacks and ancillary storage and collection products to the away from home cleaning market and the recycling and waste management sector.
We have ambitious growth plans for our core business, on which we are determined to refocus all our efforts. We are delighted to have reached agreement with Mark Fuller, who previously ran the recycling division, and will do all we can to ensure a smooth transition to the new owners.
The sale in no way diminishes Cromwell Polythenes on-going commitment to closed-loop recycling and we shall continue to recover packaging materials from the waste stream that can be returned to the production cycle. We wish Mark and his team every success.
Leopard Recycling, commercial director Mark Fuller said: Having run Cromwells recycling division for the past eight years I am well aware of its potential and am excited by the prospect of building on the successful foundation that has already been laid. I am particularly pleased that this will be with the team of people with whom I have worked in the past. Between us, I have every confidence in our future.
Although our focus will continue to be polythene, Leopard will be free to develop its own markets, trading a more diverse range of recyclable waste materials.
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