Recycled plastic wood products business set for growth following funding
Recycled plastic wood products firm Plastecowood, whose carbon-negative products collectively remove some 40m unwanted plastic items annually from the UK’s waste stream, is set for significant expansion.
Santander UK has provided the manufacturer, based in Rhyl, North Wales, with a £1.3m funding package to support its expansion
The funding supports Plastecowood’s purchase of two additional processing lines, which will triple its output of Smartawood® – a carbon-negative alternative to timber – lumber and assembled products from 2,000 tonnes annually to 6,000 tonnes. In line with this increased manufacturing capacity, the business is targeting an increase in annual turnover from £2.3m currently to £6m-£10m in the next few years.