StockMarketWire.com - Coral Products announced its recently commissioned plastic recycling facility at its Haydock mouldings plant had been granted accredited re-processor status from the UK Environment Agency after meeting guidelines.

The company also said it would ramp up hours of its recycling unit to meet higher demand.

The new status, beginning 1 Jan 2020, would give the business the opportunity to 'reduce operational costs by fully off-setting the plastic packaging waste levy it currently incurs in the future,' the company said.

'Due to very high internal and external capacity demand of clean recycled plastic the operational hours of our recycling unit will increase from the current 8 hour 5 day per week to 16 hour 5 day per week in December 2019,' it added. 'A further capacity increase to a 24 hour 5 day operation is planned to be completed by 30 April 2020.'

At 10:00am: [LON:CRU] Coral Products PLC share price was +0.2p at 7.2p



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