New Jersey-based GDB International is taking control of the 160,000-square-foot facility that takes hard-to-recycle plastic bags and films and turns out recycled pellets for use in new plastic products.
The company’s subsidiary, GDB Circular, will run the plant, which had an initial goal of handling up to 90 million tons of plastic annually. The new owner did not share a planned re-opening date.
“We are thrilled to continue building on the original vision of creating a circular economy,” Raj Bagaria, managing director of GDB Circular, said in a statement. “Together with ongoing support from our dedicated partners, [we are] committed to growing a world-class plastics recycling facility that delivers sustainable solutions for businesses and communities across the region.”
General Mills, Schwan’s and other local companies remain invested in the project, according to a news release.
“We believe it can make a meaningful impact on reducing the environmental impact of our packaging,” said Mark Mikol, senior director for packaging engineering at Schwan’s. “It’s the right thing to do for our environment, our business and our region.”
Many notable Minnesota institutions voiced or contributed support for the project when South African firm MyPlas first proposed and built it, committing a combined $9 million to the effort. The facility held its grand opening in December 2023 but quickly faced financial challenges.
