70 people lost their jobs after the Graphite Resources plant at Blaydon closed in 2013
The Graphite Resources plant at Blaydon closed in February 2013, leaving seventy people out of work but the plant is set to reopen, following an investment of £2.2m and will help to create new jobs.
The plant closed due to the company’s bank, Lehman Brothers collapsing, which forced all operations at the site to cease. The closure was a huge blow to the community, leaving seventy people out of work.
The plant is set to reopen in October this year, having been purchased in 2015 by Catfoss, the Humberside-based holding company. The aim of the new owners is to create thirty new jobs and make it into a business that turns over £10m in its first year and continues to grow year-on-year.
The £2.2m funding package has been provided by Access Commercial Finance, who are based in Leeds. The finance will be provided in multiple phases, to refinance the waste management plant and for the machinery that the plant requires to complete the process.
By the time Phase Two is in progress, the autoclaves will be working again and staff will be recycling waste at the newly opened plant, twenty-four hours a day.
As soon as the plant is functioning fully, it will use autoclaves to sterilise the waste. This means that it doesn’t need to go to landfill and can be used for other purposes, including biofuel or building, which helps to alleviate carbon emissions and part of the need for land remediation.
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