SEATTLE (Recycling Monster): Montreal-based leading recycled plastics manufacturer Gould Industries Ltd. has announced the acquisition of a manufacturing facility in Summit, Mississippi. This is the company's first industrial operation in the U.S.
The acquisition marks a major step forward in the company’s Noirth American growth strategy. Gould Industries Ltd. expects the expansion to strengthen its position in the U.S. retail market.
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The newly acquired facility spans more than 100,000 square feet across six acres and features a CN railway siding capable of handling up to 30 railcars. The plant has the potential to produce up to 80 million pounds of products every year while recycling approximately 10 million pounds of plastic per annum.
Gould Industries Ltd CEO Frederico Panetta stated that the Mississippi facility represents a strong strategic fit that will enhance the company’s ability to support major cross-border retail customers across the North American region. It must be noted that Gould’s Montreal facility has reached full production capacity.
The Mississippi plant will source plastic feedstock exclusively from U.S. suppliers. The acquisition secures approximately 150 jobs across the company’s combined Mississippi and Montreal operations.
Gould Industries plans to make further investments aimed at facility modernization and workforce development over the coming months.