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Corovin enters into major environmental joint venture in recycling.

Corovin Enters Into Major Environmental Joint Venture In Recycling

Taking a step beyond its traditional nonwovens borders, Corovin, Peine, Germany, has entered into a landmark joint venture in the field of recycling and environmental consulting. Essentially, the nonwovens producer, ranked number 27 in the world by nonwovens industry, is about to become a major waste recycler.

Together with the Belgian firm Ravago, which is one of the world's largest recycling companies, Corovin has formed Coratech GmbH. The new company, of which Corovin will own 25.1%, will specialize in recycling materials, including nonwovens, and providing advice on environmental issues. The recycling plant will be located at a site adjacent to Corovin's existing facility in Peine.

In the first phase of the project, both partners will invest DM 6 million in the construction of a recycling plant for polyethylene and polypropylene industrial waste, with an initial capacity of 4000 tons. A second phase expansion to 10,000 tons a year is also planned.

Corovin had 1990 turnover of $55 million and has built a reputation as a company willing to take financial and marketing risks within the nonwovens industry. Since its purchase by the German Stohr Group latelast year, Corovin has completed an impressive, $40 million R&D facility in Peine and is nearing completion of its four bank, 3.4 meter spunbond/melt blown line at the same site.
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Publication:Nonwovens Industry
Article Type:Brief Article
Date:Dec 1, 1991
Words:229
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