Hi Technological Plastic Industries PLC

  • Land: Großbritannien

Nachricht vom 14.12.2018 | 15:25

Hi Technological Plastic Industries PLC: Hi Technological Plastic Industries PLC: are looking at opportunities in the USA and are considering to acquire a US Entity

DGAP-News: Hi Technological Plastic Industries PLC / Key word(s): Miscellaneous

14.12.2018 / 15:25
The issuer is solely responsible for the content of this announcement.

The management team of Hi Technological Plastic Industries Plc are looking at opportunities in the USA and are considering to acquire a US Entity. The US entity would seek to raise at least $10,000,000 and eventually get listed in the USA. Hi Technological Plastic Industries Plc is considering taking a 51% equity stake in US Entity. with 49% shareholding for investors worldwide. This additional fund raising will not dilute the European Investors.
Hi Technological Plastic Industries LLC, the operating company, has the experience and the markets to dispose of recycled plastic, and an unprecedented and unique opportunity to establish a business in the USA.
The business has been initiated in the wake of China's decision to stop importing nearly half of the world's scrap starting Jan 1, 2018. The USA was shipping 4,000 containers of recyclable material a day to China before this decision. The ban will displace an estimated 111 million metric tons of plastic waste by 2030.China had imported around 45% of the world's plastic waste since 1992. 
China's recent ban on the import of plastic waste means the USA and other industrialized countries that have been exporting their plastic waste to China for recycling, will need to find new ways to handle the disposal of their trash, as much of it is already starting to pile up in landfills.
"Bold global ideas and actions for reducing quantities of nonrecyclable materials, redesigning products, and funding domestic plastic waste management are needed," authors of a study wrote in the journal Science Advances.  
HTPI offers a solution with its "Mobile Plastic Shredding Units" to be introduced across the USA. The idea is to build Mobile Plastic Shredding Units, which can shred plastic on-site and then pack the material into containers for export. This way, companies save warehousing and transportation expense. South Asian countries have huge demand for shredded plastic.
Extending business in the USA will enhance the valuation of Hi Technological Plastic Industries Plc and its investors. Activities in the USA will probably delay the listing of Hi Technological Plastic Industries Plc till January 2019
This transition into recycled plastics is clearly illustrated by 11 companies working with the Ellen MacArthur Foundation to hasten the plastic industry to a circular economy. The Foundation estimates the 11 companies are responsible for six-million metric tons of plastic packaging each year.
The companies include well known, international brands: Amcor, Ecover, Evian, L'Oréal, Mars, M&S, PepsiCo, The Coca-Cola Company, Unilever, Walmart, and Werner & Mertz.
State of Tennessee, Department of Economic & Community Development invited Consultants of Hi Tech Plastic Recycling Inc on November 28, 2018 and looked at possible sites in Lincoln County, Maury County and Stewart County. Commissioner Bob Rolfe from the Tennessee Department of Economic and Community Development talked about the various incentives State of Tennessee was willing to offer Hi Tech Plastics Recycling Inc. 
Director of Business Development, Kirby Lewis accompanied the consultants for Hi Technological Plastic Industries on a two-day tour of the State of Tennessee being November 28thand November 29th, 2018. During this visit the Consultants were introduced to Kendrick J Curtis, PHD from the Middle Tennessee Industrial Development Association,  W. Allen Borden, Deputy Commissioner from the State of Tennessee, Elain Middleton from Lincoln County, Neil MacDonald from Tennessee Valley Authority, Jeff Mason from Smith County, Jon Hartman from City of Elizabethton, Bart T Hardison from Newmark Grubb Knight Frank, CA Schuettler, Director Planning and Zoning, Timothy Tidwell from TVA, Alicia Summers, VP of Business Development, Charly Lyons President Tennessee Central Economic Authority, Angela Regitko, Business Development Consultant, State of Tennessee, Iliff Mc Mahan Jr, Regional Director, State of Tennessee. The consultants were also introduced to Mayors of various counties who share their eagerness to help set up the production venues for Hi Technological Plastic Industries.
Under these circumstances, the Exchange recommended in our final listing meeting that it expects us to put new assets into the entity before getting listed. Facing this fact, plus considering that our sales numbers are increasing, the best figures ever in our history, we are working hard to get our ambitious goals accomplished and satisfy our investors.
Christmas is coming as well. This is a time for employees, management, shareholders, investors to take some days off with families to recover from a hectic year. 
As our good news would fall in a time when we cannot get the full attention of the public, we are revisiting our plan for listing this year, and expect to wait until January 2019. We will inform shortly about the final decision.
Here are various articles highlighting the Recycles Plastic crisis in the USA, Europe and across the world:
Chinese Firms Snap Up U.S. Sites to Process Scrap
The plastic waste crisis is an opportunity for the US to get serious about recycling at home
Trash wars: US drowning in its own waste, blaming China for rejecting 'recycled commodities'
Plastics Pile Up as China refuses to take the West's Recycling

14.12.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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