kp currently leads the industry with over 20% of its volumes made from PCR material. The expansion will add an extrusion line and two thermoformers delivering a total of 15,000 metric tonnes of new rPET/PET capacity.
Scott Tracey, Chief Executive Officer states, “This investment supports our growth strategy and is a result of our strong commitment to sustainable innovation. The expansion responds to continued demand for sustainable options from our food packaging, pharmaceutical, consumer and label film customers. Working in conjunction with our customers, we will continue to develop solutions that reduce the requirement for virgin raw materials which is essential for our industry’s sustainability targets in the future.”
The extrusion line will support production of important sustainable product lines such as kpNext™ recyclable pharmaceutical blister films, and Smartcycle® recyclable label and consumer packaging films. The thermoformers will produce award winning kp Elite® mono-material protein trays which are made using up to 100% recycled PET and are easily recycled creating a circular economy.
The location for multimillion-dollar expansion is currently under determination and will sit next to one of its six North American plants that is best situated to serve its customer base. It is targeted to be fully operational in Q1 2024.