Biffa to Recycle Plastic Bottles for Nestle Waters UK; Shares Rise
September 23 2020 - 6:23AM
Dow Jones News
By Jaime Llinares Taboada
Shares in Biffa PLC jumped Wednesday after it announced that it
will recycle plastic bottles for Nestle Waters UK.
The FTSE 250 waste-management company said both groups have
entered into a partnership that will help the subsidiary of Nestle
SA achieve its target of making every Buxton bottle from 100%
recycled plastic.
The goal is to collect and reprocess plastic bottles in the U.K.
rather than source the recycled product from Europe.
The plastic supplied to Nestle Waters will be processed at its
new facility in County Durham, England, Biffa said. "The plant has
the capacity to process the equivalent of 1.3 billion plastic
bottles each year and will supply recycled material to Nestle
Waters' Buxton factory from 2021," the company said.
Shares in Biffa at 0948 GMT were up 17.6 pence, or 8.8%, at
217.0 pence.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
September 23, 2020 06:08 ET (10:08 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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