Bangkok: SCG Chemicals Public Company Limited (SCGC) has signed a deal to acquire Recycling Holding Company Volendam BV, also known as "Kras" a leading waste management company in the Netherlands, to accelerate its business and penetrate Europe's expanding recycled polymer market. Kras also operates in other businesses spanning the entire recycling business chain, from upstream to downstream. The acquisition is consistent with SCGC's business direction, which focuses on being a leader in the integrated chemicals business for sustainability by developing environmentally friendly plastic innovations. It is prepared to strengthen its position by introducing green polymer products to penetrate the recycled polymer market in Europe.
This acquisition agreement was jointly signed by Mr. Tanawong Areeratchakul, CEO and President of SCG Chemicals or SCGC, and Mr. Ben Kras, Chief Executive Officer of Recycling Holding Volendam BV. SCGC will acquire a 60% stake in Recycling Holding Volendam BV through SCG Chemicals Trading (Singapore) Pte. Ltd.
Mr.Tanawong Areeratchakul, CEO and President of SCG Chemicals or SCGC, said, "SCGC aims to grow the sales of SCGC GREEN POLYMER™ portfolio to one million tonnes per year by 2030. SCGC previously invested in Sirplaste, a leading polymer recycling company based in Portugal. We have expanded our investment in the upstream business, which entails the collecting and sorting of plastic waste, a crucial aspect of the recycled polymer manufacturing business that is directly related to the growth of the green polymer products. The investment in Kars will result in a fully integrated recycling business chain that encompasses plastic waste collection, recycling, processing, and reaching European brand customers, in line with SCGC's strategy to encourage continued growth into Chemicals Business for Sustainability.”
