IntegriCo Composites Inc., a composite industrial products manufacturer, has entered into a strategic partnership with Closed Loop Fund (CLF) to fund comprehensive recycling infrastructure as well as to expand its strategic sourcing programs in capturing increased volumes of landfill bound plastics.
"IntegriCo is turning what used to be a low value bale of mixed plastics into a higher value infrastructure product, thereby improving the value of the recycling mix and ensuring that hard to recycle plastics don't end up in the landfill or in waterways. We see this investment as helping unlock an important economic bottleneck in the recycling system." CLF Managing Partner Rob Kaplan said in a statement.
“The investment made by Closed Loop Fund in IntegriCo will enable immediate and continued expansion of IntegriCo’s operations within its new Sarepta Louisiana manufacturing facility,” IntegriCo CEO Scott Mack said in a statement. “IntegriCo is rapidly expanding composite railroad tie manufacturing capacity based upon strong customer demand.”
The investment will enable IntegriCo to complete its second manufacturing line in Sarepta, La., prior to the end of 2017 resulting in capacity of 250,000 rail cross ties annually, while consuming in excess of 65 million pounds of recycled plastics.
The expansion will also permit the continued production of new products including longer length rail ties and a recently redesigned composite grade crossing system.
“This is an important step with a great partner to continue execution of IntegriCo’s strategy to produce at least 1 million rail ties annually by the year 2020,” Mack added.