Schwarz Group buys plastics recycler

With the Sky Plastic Group, the GreenCycle Foundation & Co. KG has taken over an established company in plastics recycling with retroactive effect  as of the beginning of the year. Like the discounters Lidl and Kaufland, GreenCycle belongs to the Schwarz Group.

With its two operating units, the Sky Plastic Group processes plastic wastes from bales and flakes, from which it produces PP, PE and PS recyclates. It has two sites – in Haimburg (Austria, photo) and Fonte (Italy). The raw materials originate predominantly from Germany, Italy and Austria. Among other things, some raw materials are already being processed by PreZero, the waste management company of GreenCycle. The parties have agreed not to disclose the purchase price of the transaction.

“The fact that new products can now be manufactured from sorted out plastics complements the Schwarz Group’s holistic REset Plastic approach of closing cycles,” explained Gerald Weiss, Managing Director International Business Development at GreenCycle. “With the takeover, we now have a company in our ranks that has been successfully active in plastics recycling for many years. In this way, we are expanding our scope of value creation and, together with our employees, can use the existing knowledge as a platform for further growth in this area,” points out Dietmar Böhm, Managing Director of GreenCycle. All 150 employees of the Sky Plastic Group are to be taken over. Clemens Stockreiter, CEO of Sky Plastic Group, explained, “With the Schwarz Group we have found a strong partner with whom we can further expand our recycling know-how and exploit synergies. This will enable us to give plastics a second life and render a significant contribution to making the world a more sustainable place”.

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