Belgian metals recycler Campine has made an offer for the plastic recycling facility owned by French firm Recyclex.
Following the failure of a debt restructure, Recyclex has applied to French courts for an order for reorganisation proceedings and a disposal plan for its assets.
Campine has announced that it has made an offer to acquire the lead battery recycling plants in in Escaudoeuvres and Villefranche-sur-Saône, France as well as the plastics recycling unit C2P, located on the latter site.
C2P is a PP recycling plant that specialises in recycled products for automotive, horticulture, packaging and industrial equipment.
The two sites employ about 60 people.
In a statement Campine said: “This bid fits in Campine’s expansion plans to grow in the circular economy by increasing its material recovery rate as well as starting to recycle plastics. Campine intends to integrate both plants in its industrial operations, maintaining employment and plans substantial investments in the future on both sites. Campine also aims to continue the relationship with the existing suppliers, service providers and customers.”
Recyclex has said it has received an offer for these plants worth less than €2.5 million (£2.07 million) from Campine.
It has also received offers for other assets worth a total of €40.5 million including for a 50% stake in its Recyctech business from Glencore, but this is not likely to allow it to restructure its debts.
Recyclex said in a statement that with its high level of debts and liabilities, plus the low value of the sale of its assets, the prospects of adopting a reorganisation plan remain uncertain.