LONDON, ENGLAND, March 4, 2019 — Vision Gelpack, the UK-based manufacturer of high-performance polyethylene flexible packaging has gone into voluntary administration. The company manufactures polyethylene products, from films, food grade bags, sacks, sheets and tubing in both virgin and recycled polymer grades.
In 2016, the company was bought out of administration by the Visionscape Group. Vision Gelpack was formed following the acquisition of the assets of GelpackExcelsior by Visionscape Group.
The spokesperson for Vision Gelpack, Mr. Steve Farncombe said the company will be refocusing efforts on the recycling and resource recovery subsidiaries and is shutting down the single-use plastic production lines as part of the company’s Sustainability Commitment.
“The decision to put the company in administration mirrors harsh realities to do with future prospects that have been affected by the uncertainty surrounding the Brexit process. One of the significant factors in the decision is also the recent directive by the EU that has introduced restrictions on single-use plastic products by 2021. We regrettably have to make some tough decisions to position us for success in a highly competitive marketplace that is rapidly evolving.” he said.
Gelpack Excelsior was founded in 1988 and has since expanded. The administration process is being handled by Duff & Phelps.