EFS-plastics Inc., a post-consumer plastics recycler based in Listowel, Ontario, has acquired Exi-Plast Custom Molding, a plastics manufacturer focused on custom blow molding services based in Huron, Ontario. According to the companies, the acquisition increases the market strength and stability of both organizations, which create over 110 jobs in Huron and Perth Counties, Ontario. Both will continue to operate within their organizational structures and build on their existing inventory of valued suppliers and customers.
“Having worked closely with EFS as a supplier since 2016, it was natural for Exi-Plast to become part of the EFS group of companies,” said Jeffrey Lang, President of Exi-Plast. “With the support of EFS, we look forward to increasing our production capacity and upgrading the equipment over the next few months.”
The acquisition of Exi-Plast fits in with EFS ‘mission to reduce plastic waste by replacing the use of virgin plastic with high quality, low-carbon recycled plastic. By purchasing Exi-Plast, EFS can directly manufacture end products with a high proportion of recycled plastic for its customers. Given the commitments made by Marken and the Canadian federal government to use more recycled plastic, EFS will recycle greater amounts of plastic from Canadian households thanks to this improved vertical integration.
“Our investment in Exi-Plast will increase our ability to serve customers who want to improve their environmental footprint,” said Martin Vogt, President and CEO of EFS-plastics. “As we are closely monitoring the actions of both the federal government and the private sector, we see the increasing demand for recycled content as a permanent trend.”