Technological watch

Danish packaging manufacturer takes over Dutch recycling company 4PETThe Danish firm is creating a recycling economy for rPET food trays (Photo: Faerch Plast)Packaging manufacturer Faerch Plast (Holstebro / Denmark; www.faerchplast.com) has acquired the Dutch recycling group 4PET (Duiven; www.4petrecycling.nl) for an undisclosed sum. The Danish company says this makes it one of the world?s first integrated producers of plastics packaging with an industrial-scale circular economy for rPET food trays.
?For years, Faerch has been promoting sustainability, and all of our products are designed for recyclability,? says Faerch Plast CEO Lars Gade Hansen. ?With the modern infrastructure in place at 4PET to sort and process disposed plastic trays, we are able to transform used trays into raw material for new food-contact products.?
The 4PET group recycles PET bottles and trays and has four production sites, along with 200 employees. In 2017, the company posted sales of over EUR 50m. The transaction is subject to regulatory approval and is expected to be completed before the end of Q3 2018.
Faerch Plast belongs to the private equity company Advent International (Boston, Massachusetts / USA; www.adventinternational.com). At the time of the takeover about a year ago, the US firm said it wanted to build the Danish company into a European market leader in the packaging segment and to expand its international presence through acquisitions ? see Plasteurope.com of 12.06.2017.
This newest takeover follows Faerch Plast?s recently completed acquisition of PSB Industries? (Annecy / France; www.psbindus.com) thermoforming activities, which includes two plants in France ? see Plasteurope.com of 11.05.2018. The two plants belong to PSB subsidiary CGL Pack, and are in Annecy and Lorient. The company said at the time that it was planning ?substantial? investments for the French market.30.07.2018 Plasteurope.com [240298-0]