Pratt Industries has announced the creation of a new facility that plans to produce recycled corrugated board. The new plant will be located in Beloit, Wisconsin. Construction of the $ 52 million plant is scheduled to begin in the spring of 2015 and is estimated to be fully operational in early 2016.
According to the company, the facility will be located on 56 acres near the gateway and will create about 200 jobs. The plant is working on an environmentally friendly technology for production and water use. Vehicles and other heavy equipment will run on compressed natural gas (CNG) to prevent harmful emissions into the atmosphere.
Once the plant is fully operational, it will have a production capacity of around 600 tonnes of recycled boxes per day. The plant will convert corrugated packaging made at the company's factories into sheets. These sheets will be used to make boxes.
The City Council must provide an incentive package to support the project. The Wisconsin Economic Development Corporation (WEDC) will also contribute to the packaging industry. The plant has already received a $ 2.4 million loan from WEDC over the next four years. In addition, WEDC has also authorized a low interest rate loan for the purchase of plant equipment. Pratt Industries is the 5th largest corrugated packaging company in America and the world's largest privately-owned 100% paper and carton recycling company.
