Austrian recycler Kruschitz (Völkermarkt; www.kruschitz-plastic.com) and PP compounds specialist CF (Ferentillo / Italy; www.cfplast.com) have set up a new recycling joint venture. Cointer will move into a 1,000 m² plant located at Kruschitz’s site in Kühnsdorf / Austria. The companies invested EUR 1.9m in the jv, which in the medium-term is expected to create 12 jobs. Cointer is also expected to start up a nanotechnology R&D project shortly.

The partners reportedly considered to base Cointer in Germany or France, but decided on Austria not only because Kruschitz is headquartered here, but also for tax purposes, its low electricity prices and cheap transportation costs, said Marco Costantini, who will manage Cointer together with Kruschitz CEO Werner Kruschitz.

Kruschitz has been supplying CF for some time already, making a strategic partnership the next logical step, the company said. The Austrian company expects the jv to lengthen its processing chain and lower its costs. At the same time, Kruschitz is also hoping that CF’s know-how will raise its own innovativeness.