Nov 24 2010
Fox Petroleum Inc. (PINKSHEETS: FXPT) announced today that its Canadian subsidiary, Resources Polymers Inc., expects to have its wash line finalized by mid December of 2010.
"We installed our wash line and had it running and processing (PET) water bottles in 2009, however we stopped using it for a good part of 2010 while we installed our new processing line,"said William Lieberman President of Fox Petroleum Inc. "We will be the only firm that I know of with the ability to clean any type of post industrial scrap plastic waste in southern Ontario. We expect the demand for our stream line process of sorting, shredding, grinding, cleaning and extruding any type of plastic compound to have a serious impact for recyclers and municipalities in the region and we expect in 2011 to be a very good year," he added.
The plastics the company currently recycles have gone back into the recycling system and have already been sent back to remaining compounding firms and are being turned into new products including new agricultural trays for greenhouses.
The company would like to recommend the excellent documentary Trash Inc. produced by CNBC and hosted by Carl Quintanilla for a further understanding on how its processes are used in the recycling system and how water bottle recycling is expected to grow.