A Group of Investors Relaunches Plasticos Hidrosolubles

The Valencian company, the unique Spanish manufacturer of water soluble plastic, estimates to produce 100 tons this year after starting production in January

Plásticos Hidrosolubles was born in 2003 with the aim of producing a plastic as resistent and with the same properties than polyethylene, which is used for bags or containers, but with a very peculiar property: the ability to be dissolved in in water.

The company was initially formed by a group of Valencian investors and Symbiosis Venture, a club of investment which brings together twenty partners that perform risk capital operations jointly. While production began in January this year, a new group of private investors joined the project to support the expansion plans.

Implementation of the company and its plant, covering 2,300 square meters, required an investment of 3.5 million euros, for which counted with the support of Valencia Institute of Finances, which has provided a loan of one million euros, the CDTI and the CAM.

The company estimates to reach this year a production of 100 tons and 150-200 tons in 2007. The cost of this film lies between nine and twelve euros per kilo, versus three euros of current plastic.

The company estimates that in Spain already were they coinsumen between 1000 and 2500 tons of this material, even though its market will be all over Europe.

Click here to read the original article at Spanish business newspaper Expansion.

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