SPS Plastics LLC, a Maryland-based recycler specialized in processing scrap plastics from Tier 1 automotive molders, has plans to open three facilities in Mexico, including a 50,000-square-foot site now under construction in San Luis Potosi, which is expected to open this Spring, Plastic News reported.
The company is also looking at locations in Queretaro and Monterrey, where the firm is currently outsourcing work to third-party recyclers. Those locations could open next year, according to SPS Plastics Chief Operating Officer Shreyas Naik.
According to Plastic News, SPS focus on high temperature polymers, which are used to manufacture components that are placed under the hood. Among materials handled by the company include engineered resins, polycarbonates and acrylics.
SPS Plastics success is due in part to an increasing number of molding companies looking to incorporate more of their own manufacturing scrap in to new products. Such manufacturers are now viewing this material as an asset rather than waste with a disposal cost.
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