By Dora Houpis
Two merged scrap metal recycling businesses in Laverton North and Brooklyn will be able to expand, creating more green jobs following an increase in state government funding.
The combined business of Pacific Metal Group in Laverton North and Cougar Recycling in Brooklyn and Port Melbourne employs 36 people and is expected to secure funding under the government’s $250 million Business Growth Fund.
Pacific Metal Group chief executive Jason Whitaker said the funding will provide welcome support to the companies’ operations.
“Pacific Metal Group, through its metal recycling facilities in Victoria, has the opportunity to be a leader in the decarbonisation of steel,” he said.
“With support from the Victorian Business Growth Fund, this project will create skilled green jobs for Victorians.”
Tarneit MP Sarah Connolly said the funding would support local workers.
“Pacific Metal Group is a great local business and it’s fantastic for the workers to see this support for its growth,” she said.
Southern Metropolitan MP Nina Taylor said Cougar Recycling has a long history.
“Cougar Recycling has established its reputation over decades – this investment will allow the company to continue to evolve.” she says.
The investment is expected to enable the company to upgrade processing and collection infrastructure to produce cleaner, more valuable recycled metals, with the potential for additional acquisitions to better support suppliers and customers.
The company will continue to be led by existing management who have worked in the industry for over 30 years and are passionate about decarbonizing steel production.
Australia supplies around seven percent of Asia’s recycled metal imports and Victoria supplies around a third of all Australian recycled metal exports.
Established in 2020, created through Spirit Super and Aware Super and managed by independent fund managers Roc Partners, the Business Growth Fund program invests in successful small and medium-sized businesses ready to grow.
Details: business.gov.au/grants-and-programs/Victorian-Business-Growth-Fund