August 29, 2013
The Niagara Falls, N.Y.-based company, which recycles waste plastic into liquid fuel, said the Thorold facility will close in the next few weeks and eight employees will lose their jobs. JBI decided to forego having a two-stage plastic delivery process in favor of using processor-ready plastics delivered directly to its fuel-processing site in Niagara Falls, according to a news release.
JBI is attempting to reduce costs to improve cash flow. It projects annualized savings from the action of about $800,000.
“These cuts were an important strategic move for us,” said Richard Heddle, JBI CEO. “We continue with the vision of procuring non-recycled streams of plastic that we can divert from landfill.”