TIDMCRU

RNS Number : 0745W

Coral Products PLC

09 December 2019

CORAL PRODUCTS PLC

("Coral" or the "Company")

Coral's Haydock recycling plant gains accredited re-processor status.

The Coral Board is pleased to announce that its recently commissioned plastic recycling facility at our Haydock mouldings plant has been granted accredited re-processor status via the UK Environment Agency by meeting the strict guidelines of "The producer responsibility obligations (packaging waste) regulations 2007." The new status, beginning 1 Jan 2020, will give the business the opportunity to reduce operational costs by fully off-setting the plastic packaging waste levy it currently incurs in the future.

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. A further capacity increase to a 24 hour 5 day operation is planned to be completed by 30 April 2020.

Mick Wood CEO said "This accreditation is the culmination of many months of hard work by the Coral team. Following on from our new lightweight recycling bins and boxes that came on stream earlier in the year, it further demonstrates our focused commitment to plastic minimisation and 360 degree plastic recycling."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Enquiries:

 
 
 Coral Products plc                            Tel: 07788 565 
  Mick Wood, CEO                                754 
 Nominated Adviser and Broker                  Tel: 020 7213 
                                                0880 
 Cairn Financial Advisers LLP 
 Nominated Adviser 
 Tony Rawlinson / Liam Murray / David Lawman 
 
 PR                                            Tel: 07515 587 
                                                184 
 Capital Markets Consultants Limited 
 Richard Pearson

About Coral

Coral Products PLC is a specialist in the design, manufacture and supply of injection moulded plastic products based in Haydock, Merseyside.

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December 09, 2019 02:00 ET (07:00 GMT)

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