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A PIONEERING £4m recycling facility – the first of its kind in northern Europe – has been set up by two Yorkshire entrepreneurs.
Andy Hinton and Nick Wyatt opened the TyreGenics plant at Baglan, near Port Talbot in South Wales, yesterday.
It will reprocess around four million used tyres each year into rubber 'crumb', used to make artificial sports pitches, insulation products and rubber flooring.
The plant, which will create up to 30 jobs, will handle 80 tonnes of tyres a day and has contracts in place to sell 70 per cent of production.
The majority shareholder in Tyregenics is Credential Environmental, owned by the Harewood-based Ailsa 3 venture capital fund which was set up by Mr Wyatt and Mr Hinton after they sold Leeds-based waste services firm White Rose Environmental for 35m to United States firm Stericycle in June 2004.
TyreGenics is a joint venture between majority shareholder Credential Environmental, the UK market leader in recycling used tyres; industrial gases expert BOC; world-leading Canadian based artificial sports pitch business FieldTurf Tarkett and Canadian cryogenic plant manufacturer RTI Cryogenics.
FieldTurf will take around two-thirds of the production of rubber "crumb".
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Weather for Yorkshire
Saturday 11 February 2012
Today
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Temperature: -2 C to 1 C
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