Atkore Inc. Sells Northwest Polymers: A New Chapter in Plastics Recycling
Harvey, Ill. – Atkore Inc., a prominent manufacturer of electrical products for various applications, recently announced the sale of Northwest Polymers. This company, based in Molalla and Aurora, Oregon, specializes in post-industrial and post-commercial plastic recycling. Bill Waltz, Atkore’s President and CEO, stated, “Atkore continually reviews the strategic direction of all aspects of our business, including potential acquisitions and divestitures, to ensure we are best positioned to meet the evolving needs of our customers and the industry.”
Background on Northwest Polymers
Northwest Polymers, a subsidiary of Atkore since 2016, plays a crucial role in the circular economy by recycling industrial and post-consumer plastic waste into pellets, which are then used to manufacture new products. The company’s expertise in recycling a wide range of plastics, including high-density polyethylene (HDPE), polyethylene terephthalate (PET), polypropylene (PP), and polystyrene (PS), has made it an essential player in the recycling industry. By recycling over 150 million pounds of plastic annually, Northwest Polymers contributes significantly to reducing the environmental impact of plastic waste.
Impact on Atkore Inc.
The sale of Northwest Polymers marks a strategic move for Atkore as they focus on their core electrical products business. By divesting from the recycling sector, Atkore aims to streamline its operations and allocate resources more effectively to its primary business areas. This decision may lead to increased efficiency and profitability for Atkore, allowing them to better serve their customers and invest in innovation.
Impact on the Plastics Recycling Industry
The sale of Northwest Polymers to an undisclosed buyer raises questions about the future of the plastics recycling industry. While the details of the transaction have not been disclosed, the sale could potentially lead to consolidation within the industry, as smaller players are acquired by larger entities. This consolidation could result in increased scale and efficiency for the remaining players, allowing them to better compete with virgin plastic producers. Moreover, the sale could also lead to increased investment in advanced recycling technologies, which may help improve the quality and circularity of recycled plastic.
Conclusion
Atkore’s decision to sell Northwest Polymers signifies a strategic shift in focus for the company, allowing them to concentrate on their core electrical products business. While the sale may lead to increased efficiency and profitability for Atkore, it also raises questions about the future of the plastics recycling industry. The sale could result in consolidation, increased investment in advanced recycling technologies, and improved circularity of recycled plastic. As the world continues to grapple with the environmental challenges posed by plastic waste, the recycling industry remains a critical player in the circular economy.
- Atkore Inc. sells Northwest Polymers, a plastic recycler based in Oregon.
- Northwest Polymers specializes in post-industrial and post-commercial plastic recycling.
- Atkore aims to streamline operations and focus on core electrical products business.
- Sale could lead to consolidation and increased investment in advanced recycling technologies.
- Recycling industry plays a crucial role in the circular economy and reducing plastic waste.
