According to a report by environmental technology specialist Nederman, UK manufacturers need to be more efficient in how they recycle metal waste or continue losing millions in potential profits each year.
The What a Waste report by Nederman focuses on the practices of metal machining manufacturers such as those making components for the automotive or aerospace sectors, or producing consumer goods.
The report demonstrates its findings across five typical scenarios, revealing that average businesses are losing from £ 172 to £ 780 on every tonne of metal waste they recycle, representing many millions in lost profit for UK manufacturing sectors.
The findings show that while recycling levels are strong, with companies recognising the value in scrap metal, they are failing to properly appreciate its true potential value.
Companies need to appreciate that recycling in itself is not enough to maximise profitability. By handing over unprocessed metal waste to recycling companies they are potentially handing over a significant amount of their potential profits.
By improving the efficiency of their recycling processes, they can achieve a much higher price for the metal swarf they produce as well as reclaiming valuable coolants and cutting their transport costs.
The report also highlights how the rising price of metals mean that many more companies would now benefit from reviewing their recycling processes. Even businesses that have already reviewed their processes, would be wise to look again. The changing values of metals have dramatically affected calculations in recent years
In the case of aluminium, changing prices over recent years have almost halved the predicted payback period of the capital investment required to create a more efficient system.
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