Ireland’s largest exporter of recycled paper and plastic waste has sealed a deal with China’s largest paper mill Wuxi Longchen Paper Co to supply recycled paper worth €500,000 (£401,554).
Waste management company Panda subsidiary Irish packaging Recycling (IPR) has been trading with China since 2008.
Confirming the deal with Wuxi Longchen Paper Co, means that IPR now has 15 customers in China, between brokers and mills.
In 2011 the company processed over 150,000 tonnes of recycled packaging material, with an export value of €20 million (£16 million). The firm was recently involved in the trade mission to China with Enterprise Ireland which was lead by Taoiseach Enda Kenny. It was organised in response to an invitation from the Chinese vice premier, Xi Jinping, who visited Ireland earlier this year.
A spokesman for the company said: “Inclusion on the Enterprise Ireland trade mission has enhanced the firm’s standing in the Irish and Chinese markets.
“Our clients in China were very impressed that we were the only recycling company included in a trade mission and were delighted with the opportunity to meet Irish and Chinese dignitaries.
“This will mean that we will have an additional 50,000 tonnes of recovered material from household recycling bins to be exported in 2012.”
The company was working to develop new markets for the materials that were being produced from the Dublin regional material recycling facility, where it took over management from the start of this year. It believes the trade mission will prove beneficial in additional contracts with Chinese firms.
