Jeremy Middleton

NEWS RELEASE: ISSUED ON BEHALF OF MIDDLETON ENTERPRISES

Business Angel Jeremy Middleton has invested in bottle recycler ECO Plastics as it drives forward with major expansion plans.

This is the second time Mr Middleton, who owns North East-based Middleton Enterprises, has provided financial support to the company, which is the largest of its type in Europe.

This latest backing from Mr Middleton brings his total investment in ECO Plastics to nearly £250,000.

The expansion, which will see ECO Plastics increasing its workforce by 30 to 160, follows the firm forming a joint venture with Coca-Cola Enterprises.

The Lincolnshire company is increasing overall processing capacity at its plant from 100,000 tonnes to 140,000 tonnes of plastic bottles per year, just under half the total collected in the UK last year. The expanded facility will be fully operational during 2012.

It will more than double British production of food-grade recycled material for soft drinks packaging.

Mr Middleton said: “ECO Plastics possesses the powerful commercial combination of an experienced management team allied with a strong business plan giving it the ability to deliver its expansion plans and further develop its marketplace.

“My strategy is to invest in companies that have the potential to grow, create jobs and add to an area’s economic wellbeing. ECO Plastics’ future plans meet all those criteria.”

Jonathan Short, ECO Plastics Managing Director, said that Mr Middleton’s investment was part of a series of funding that would assist the company with its plans to expand.

He said: “We have established a reputation for producing high quality food grade recycled plastic, which has resulted in a joint venture being agreed with soft drink industry giant Coca-Cola Enterprises.”

Jeremy Middleton was one of the founders of HomeServe plc in 1990, which represents the company’s core investment. A FTSE200 support services company, HomeServe has a market capitalisation in excess of £1.5bn.

ENDS
CONTACT: Helen Logan on 01325 363436
Notes to Editors:
Middleton Enterprises Ltd is a private investment company that has made a substantial contribution to the North East’s economy by investing in and providing business advice to entrepreneurial businesses.
During recent years, it has supported seven North East businesses, generally from start-up, usually taking a minority stake and offering strategic advice to support growth.
Jeremy Middleton was one of the founders of HomeServe plc in 1990, which represents the company’s core investment. A FTSE200 support services company, HomeServe has a market capitalisation in excess of £1.5bn.









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