HIGHLAND Spring has secured bank funding to support moves to make its operations greener amid concern about the impact of bottled water businesses on the environment.
The Perthshire-based company will use some of the £55.5 million provided by HSBC to reduce the amount of PET (polyethylene terephthalate) plastic in the manufacture and production of Highland Spring products.
It is thought PET bottles could take hundreds of years to decompose.
Read more: Recycling scheme could cut 30,000 bottles a day in Scotland
Highland Spring said the changes will help the business meet its goal of decreasing its use of PET plastic by 20 per cent, without disclosing further details.
A spokesperson for the company said it wants recycled PET to account for at least 50% of the plastic used in its bottles by 2022.
Highland Spring will also use the bank funding to support investment in a new railway siding adjacent to its main bottling plant at Blackford.
The rail facility will enable the firm to transport goods in a more environmentally sustainable way.
Read more: R&A calls time on plastic bottles at The Open
It is expected to allow the firm to move 8,000 truck movements from the road annually.
Chief operating officer Mark Steven said: “We are committed to investing in solutions which will make positive changes across our business and advance our focus on providing healthy hydration in an environmentally sustainable way.”
Owned by Middle East businessman Mahdi Al Tajir and his family, Highland Spring introduced a 100%-recycled plastic “eco” bottle last year.
Read more: Highland Spring profits hit by rising costs
It faced significant increases in PET prices in 2017.
Highland Spring expects to bottle around 400m litres of natural source water this year. It employs around 470 people.
The company made £3.3m profit on sales of £110m in 2017, during which the UK bottled water market grew for the 9th consecutive year.
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