Arkema to acquire polymer recycling specialist Agiplast
Canadian PlasticsMaterials Recycling
Headquartered in Italy, Agiplast is a plastics compounding company that specializes in the regeneration of high-performance polymers.
France-based specialty chemical maker Arkema plans to acquire Agiplast, a plastics compounding company that specializes in the regeneration of high-performance polymers and that has been Arkema’s historical partner in recycling operations.
The financial terms of the deal have not been disclosed.
Agiplast, which Arkema says has annual sales of around 15 million euros, operates a plant in Italy and has 32 employees. “Agiplast’s strong know-how in mechanical recycling technologies will enable [us] to offer high-quality recycled polymers to [our] customers,” Arkema officials said in a May 25 news release.
Arkema officials also said the acquisition allow it to offer both bio-based and recycled materials to address the challenges of resource scarcity and end-of-life products. “This bolt-on acquisition is thus in line with [our] CSR and sustainable growth strategy, and in particular the transition to a circular economy,” the company said.
The deal is expected to close in June 2021.