M&G INSTALLS NEW PET RECYCLING FACILITY AT POINT PLEASANT, WEST VIRGINIA, USA

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M&G INSTALLS NEW PET RECYCLING FACILITY AT POINT PLEASANT, WEST VIRGINIA, USA
31 January 2001 - M&G Group

M&G announced today that it has entered into a joint development agreement with Petrecycle Pty Ltd., a portfolio company of Vital Capital Pty. Ltd., to construct, operate, test and evaluate patented technology provided by Petrecycle on a commercial-scale at M&G’s Point Pleasant plant in West Virginia, USA.

The evaluation of the technology shall commence during the beginning of the third quarter of 2001. Petrecycle developed the new processes to fully incorporate coloured bottles, and PET containing other barrier materials, into the recycling process. The relationship between M&G and Petrecycle will add to and complement M&G’s present recycling facilities which includes the limited commercial production of CLEARTUF REPETE 16, a PET grade containing around 10% post consumer recycled PET, suitable for use in packaging carbonated and other beverages.

Guido Ghisolfi, Vice President - Operations & Development of M&G said, 'M&G continuously strives to improve the sustainability of its operations. We will accomplish true bottle-to-bottle recycling in a cost-effective manner while maintaining quality levels equivalent to virgin PET. Our agreement with Petrecycle will allow us to demonstrate that this technology achieves those objectives on a commercial scale.'

M&G’s technological relationship with Petrecycle should enable PET to be recycled to food grade quality at lower costs than those associated with alternative chemical technologies. It will permit resin manufacturers to chemically recycle recovered PET and incorporate it with virgin PET in specific ratios desired by the end-users, typically in the range of 10% to 25% (subject to availability of post-consumer PET).

http://www.mgpolymers.com

About: M&G Group
M&G is a family owned chemical engineering company headquartered in Tortona, Italy. It develops innovative and cost effective PET resins for container packaging and is presently the world’s second largest producer of PET for packaging applications with production capacity of 1.3 million tonnes per annum. Group sales proceeds in 2003 were $1.6 billion of which around 80% were derived from operations involving PET.

M&G Group is divided into three business units, PET Polymer, PET Packaging and Acetates. In Europe, M&G has capacity to produce around 2.5 billion preforms per annum at two locations in Italy. It operates the largest SSP unit in North America and has the current world’s largest PET production unit (1200t/d) at its Altamira facility in Mexico. The Group has manufacturing assets in Brazil, Italy, Mexico and USA. The Group supports three R&D Facilities; Italy, USA and Brazil.

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