A West Midlands-based recycling firm, QC Polymer, which had changed hands earlier this year and was actively seeking investment to fuel its growth, has now entered administration. Following the transition in ownership, QC Polymer, under the umbrella of India-based parent company Mysore Petro Chemicals, had set ambitious plans to generate £100 million in revenue over the next five years. However, the company’s trajectory shifted, with Hudson Weir’s Hasib Howlader and Nimish Patel appointed as joint administrators to oversee operations and seek potential buyers for QC Polymer’s assets.

As part of the administration, Hudson Weir is offering QC Polymer’s plastic bottle recycling plant for sale via public tender. Specialised high-tech equipment, valued for its contribution to green technology, is expected to attract interest from parties within and beyond the recycling sector. G J Wisdom & Co has been appointed as the auctioneer and valuer, with the sale marking an opportunity for investors interested in advanced recycling technology to expand their own operations.

According to Hasib Howlader of Hudson Weir, the firm faced an unsustainable rise in utility costs, which contributed significantly to its financial difficulties despite its position as an industry leader in green tech. The plant, originally costing £1.2 million to establish in 2021–2022, represents a substantial investment opportunity. Interested buyers are invited to submit sealed bids by 2 pm on 11 November 2024, with the sale anticipated to pave the way for new owners to leverage QC Polymer’s advanced machinery and assets.