Home > Information > News

Far East Closes Its rPET Plant in the United States (US)

Recycled PET New Horizons 2025-12-17 17:10:41

Phoenix Technology, a PET recycler in the United States, stated that.After attempting to negotiate better prices with suppliers and reduce operating expenses, the production plant located in Bowling Green, Ohio, was closed on November 20. Its parent company Far Eastern New Century pointed out that numerous issues with the U.S. recycling system led to this shutdown.

Far East New Century acquired Phoenix Technology in 2019. A representative from the group's recycling business explained the reason for shutting down the factory in a statement: "The low recycling rates and poor quality of packaging materials in the U.S. recycling industry, along with recent economic inflation and changes in the green mission goals of brand owners, have further impacted our operations. Therefore, we have made the difficult decision to suspend the cleaning production line at the Bolu factory to mitigate these losses."

Financial records show that Phoenix Technology suffered significant losses in 2020 after being acquired by Far East New Century. However, the company announced plans to double its recycled PET production capacity in 2022.

Phoenix Technology's predicament is not an isolated case. In recent years, there have been multiple companies...The PET recycling factory has been shut down, and the company is facing a survival crisis.

A recent report from the National Association for PET Container Resources in the United States pointed out that the significant price gap between recycled PET and virgin PET encourages the use of virgin materials or cheap imported recycled materials.

Overall, the structural challenges of the U.S. recycling system—including low collection rates, poor material quality, economic pressures, and market demand fluctuations—are posing continuous and severe tests for domestic plastic recycling companies.

【Copyright and Disclaimer】The above information is collected and organized by PlastMatch. The copyright belongs to the original author. This article is reprinted for the purpose of providing more information, and it does not imply that PlastMatch endorses the views expressed in the article or guarantees its accuracy. If there are any errors in the source attribution or if your legitimate rights have been infringed, please contact us, and we will promptly correct or remove the content. If other media, websites, or individuals use the aforementioned content, they must clearly indicate the original source and origin of the work and assume legal responsibility on their own.

Far East Closes Its rPET Plant in the United States (US)

Most Popular