The company’s second-quarter 2019 operating loss was $81 million versus operating income of $324 million in the second quarter of 2018. RePlanet says it will file for Assignment for the Benefit of Creditors (ABC), an insolvency proceeding governed by state law rather than by federal bankruptcy law, and its remaining assets will be liquidated by the assignee. Task five of the plan is to consider enhancements and expansions to the current recycling system. ICIS, a petrochemicals market information provider based in London, has released “West Europe Recycled PET Industry 2018,” a study that analyzes polyethylene terephthalate (PET) recycling rates in the region. In response to the closure, Consumer Watchdog, with an office in Los Angeles, released a news release saying the announcement “requires the governor to prioritize recycling reform in the coming months.”. As a result of the directive, there was an increase of 13 percent in food-grade rPET prices, which were generally accepted as these prices sat only 7 percent higher (on average) than virgin PET prices. Under the SUP Directive, the industry is required to reach recovery rates of 77 percent by 2025 and 90 percent by 2029, but the collection volume growth rate is currently falling, according to the study. Segment operating margin was 9.2 percent, up 210 basis points year over year. The county is accepting submissions for a new recycling facility site through Sept. 20. This is the first acquisition by the Fenix Parts platform since the company was acquired by affiliates of Stellex Capital Management LP in April 2018. Cox Truck and Van (CTV), founded in 1977, operates a full-service auto recycling facility in Gainesville and full-service and self-service facilities in Moultrie, Georgia. Organic revenue grew 3 percent. Options for food waste include a “full-scale” residential organics curbside collection program. RePlanet, which was established in 1984, operated as many as 600 redemption centers in California at its height. The report is a collaborative effort that includes national authorities, compliance agencies, deposit-return schemes and recyclers, ICIS says. The execution of a definitive purchase agreement was previously announced July 16. The county is also exploring solutions to organics and construction and demolition processing operations. Cox Truck and Van operates a full-service auto recycling facility in Gainesville, Georgia. RePlanet President David Lawrence said … “It is time for California to join other states and European countries that make bottle deposit systems work by making the beverage industry responsible for the products they make, package, distribute and sell,” Tucker says, adding that the state’s formula for calculating payments to centers is flawed. “We regret that these site closures will negatively impact our employees, grocer partners, customers and the recycling community at large,” the company states. Excess materials are being shipped to processing facilities outside of the county and state. Newsom needs to tackle this problem personally and make reform of the broken bottle deposit system a top priority this fall. According to a news release from ICIS, the study found evidence that bottle-deposit schemes are working better as an incentive than market prices for recycled materials. Tight supply saw PET bale prices rise 20 percent in 2018, compounded by the growth in reclamation capacity during the year that expanded to meet the downstream demand for RPET products. Company says it expects continued growth in the third quarter. The top seven highest collection rates in 2018 were found in Western European countries with a deposit-return scheme (DRS) in place for PET bottle collection, perhaps evidence that such systems are what is needed to produce the outcomes required in terms of quantity and quality improvements, ICIS says. Of that, 649,437 tons were municipal solid waste (MSW), 369,125 tons were recyclables and 275,345 were mixed C&D material, which were either recycled, sent to landfill or incinerated. “The capacity of food-grade rPET barely had time to build prior to the rush of supply enquires following the signing of the SUP Directive. Segment operating margin was 19.5 percent, up 220 basis points year over year. The organization also called for CalRecycle, the state’s Department of Resources Recycling and Recovery, to require grocery and convenience store chains to begin redeeming bottles and cans. , a petrochemicals market information provider based in London, has released, Recycling Today Global Edition back issues, “West Europe Recycled PET Industry 2018,”, © 2020 GIE Media, Inc. All Rights Reserved. Segment operating profit was $286 million, up $62 million, or 28 percent, year over year, driven by net cost reductions, favorable pricing and volume increases.