To our valued clients and company partners,

In 1991, PTI recognized an opportunity to leverage its expertise in plastic and material science to create Phoenix Technologies. Over the past 28 years, PTI has helped pioneer the development of recycling technologies at Phoenix to support the growing consumer demand for more recycled materials. PTI has been a key partner in the evolution of Phoenix and the technologies that are utilized in the advancement of rPET. During this time, PTI has maintained a minority interest position in Phoenix due to our close history and our common alignment within the industry.

As you may have heard, on June 5th, 2019, PTI and its previous partners have recently released the majority of their equity position in Phoenix to Far Eastern New Century (FENC). FENC, based in Taiwan, is an important global player in PET resin and recycling.

Over the past few years, FENC has become more active in North America with acquisition of some ex-M&G facilities and now, Phoenix Technologies. PTI will continue to supply technical support to Phoenix/FENC, as well as the entirety of the resin and recycling communities to drive innovation in materials use and new recycling technologies that will help to advance the industry.

The ownership and management structure of PTI and PTI Operations remain unchanged and it is business as usual at PTI and PTI Operations. PTI continues its 33-year commitment to its clients and its core business of sustainable package development, validation and analysis.

Sincerely,

Thierry Fabozzi
CEO and President, PTI