United States – PolyQuest, Incorporated (PolyQuest), North America’s leading distributor of PET resins and manufacturer of recycled PET resins, has launched Renuva Plastics, which will purchase the Faith Group Company’s U.S. division.
Over the previous quarter-century, the Faith Group Company has been the main distributor of post-industrial thermoplastics (particularly PET) in the United States, as well as the major exporter of these materials from the United States to the rest of the globe. Faith Group USA will continue to buy and distribute thermoplastics in the United States, as well as source these items locally for the Faith Group Company to export.
“This acquisition is a bolt-on and extremely complementary to our existing virgin resins distribution and post-consumer/post-industrial manufacturing businesses. Using the PET value chain as an example, we now have significant access to all virgin, post-industrial and post-consumer products in the supply chain from the resin producers through applications consuming resin such as bottle, sheet, film, textile staple fiber, textile filament, BCF, strapping, etc., and ultimately consumers as applicable,” said John Marinelli, CEO of PolyQuest.