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Composite decking companies expand, boosting PCR demand – Plastics Recycling Update

Cedar Poly in Tipson, Iowa was simply acquired by UFP Industries. | Cedar Poly internet website

Recycled-plastic decking producers are responding to strong markets For his or her merchandise by growing manufacturing …….

Cedar Poly in Tipson, Iowa was simply acquired by UFP Industries. | Cedar Poly internet website

Recycled-plastic decking producers are responding to strong markets For his or her merchandise by growing manufacturing performance, collectively with UFP buying for reclaimer Cedar Poly and Fiberon breaking floor on a facility in Tennessee.

UFP vertically combines with acquisition

Grand Rapids, Mich.-based mostly UFP Industries acquired Cedar Poly, including plastic recycling to its retail operations in a transfer in the direction of vertical integration.

UFP said in a press launch that its subsidiary mannequin, Deckorators, acquired Cedar Poly for $17 million, Which inagencys incentive funds of As a lot as $1.5 million over three years if Cedar Poly meets efficiency goals.

Tipton, Iowa-based mostly Cedar Poly is a full-service reclaimer of HDPE and LDPE And in addition recycles OCC. In 2021, it reported gross sales Of roughly $17.3 million. Now, It is going To function beneath UFP’s Deckorators enterprise unit and Cedar Poly’s administration group will proceed Inside their administration roles.

Landon Tarvin, Vice chairman of Deckorators, said the acquisition will permit The agency “to vertically combine our sourcing of recycled polymers and enhance our use of submit-industrial waste supplies in our enterprise-main merchandise with out compromising extreme quality.”

UFP plans to Pay money for further capabilities at Cedar Poly, the press launch said.

Scott Rogers, Vice chairman of Cedar Poly, said the sale will give The agency extra assets and “The power to work hand-in-hand with the Deckorators group to innovate and enhance Definitely one of the biggest compowebsite decking Inside the enterprise.”