Ontario recycler EFS-plastics acquires custom blow moulding specialist Exi-Plast
Move prompted by provincial policy and industry commitments to Canadian circular economy for plastics
EFS-plastics Inc., a post-consumer plastic recycler based in Listowel, Ontario, has acquired Exi-Plast Custom Moulding, a plastics manufacturer with a focus on custom blow moulding services, located in Huron, Ontario. According to the companies, the acquisition increases the market strength and stability of both organizations, which provide over 110 jobs in Huron and Perth Counties, Ontario. Both will continue to operate under their organizational structures and will build on their existing base of valued suppliers and customers.
"Having worked closely with EFS as a supplier since 2016, it felt natural for Exi-Plast to join the EFS Group of Companies," said Exi-Plast President, Jeffrey Lang. "With EFS' backing, we are looking forward to increasing our production capacity and upgrading equipment over the next several months."
The acquisition of Exi-Plast fits into EFS' mission to reduce plastic waste by replacing the use of virgin plastic with high-quality, low-carbon recycled plastic. By purchasing Exi-Plast, EFS can directly manufacture finished products with high levels of post-consumer recycled plastic for its customers. Given the commitments made by brands and the Canadian federal government to increase their use of post-consumer recycled plastic, this enhanced vertical integration will allow EFS to recycle higher volumes of plastic collected from Canadian households.
"Our investment in Exi-Plast will increase our ability to serve customers looking to improve their environmental footprint," said EFS-plastics President & CEO Martin Vogt. "As we closely watch action being taken by both the federal government and the private sector, we see the increasing demand for recycled content as a lasting trend."