A plastics recycling company has blamed South Australia’s soaring electricity prices for its closure, with the loss of 35 jobs.
Plastic Granulating Services has gone into liquidation after its electricity bills soared from $80,000 a month to $180,000 a month over the past year and a half.
Managing director Stephen Scherer says the price hikes simply couldn’t be absorbed and were the “final straw” for the company founded by his father 38 years ago.
“I am absolutely devastated,” Mr Scherer said on Tuesday.
“I literally kept a close daily monitor on electricity prices and at the end of the day we were simply unable to wear the extra expense as we attempted to maintain an appropriate (profit) margin across the business.
Liquidator Stephen …