Dutch recycling firm Waste Paper Trade (WPT) is to be acquired by Cycle Link International.
Subject to regulatory approval, the deal is expected to complete in a few months.
Cycle Link will be buying the shares from LUMARO Group and the Tönsmeier Group, each of which owns 50% of the equity.
WPT works with businesses and local authorities in the Netherlands primarily collecting paper grades, but also plastics.
Cycle Link International provides recovered paper to its parent company Shanying International Holdings, which owns paper mills in China. Cycle Link operates in UK, Netherlands, USA, Japan, Australia and China.
WPT chief executive Jan Lucas Oldenburger said: “Thanks to this international collaboration and the fact that WPT will continue to operate independently, WPT can offer its suppliers and customers even greater certainty. We are also confident that with Cycle Link as the new shareholder we can further strengthen our services and respond even better to market developments.”
Cycle Link International president Lai En added: “Within this collaboration the strengths and expertise of both sides are combined in the best possible way. We are now able to operate with the flexibility and independence of a global trading company, because by bringing together a vast worldwide network of suppliers we are even better equipped to meet the ever-increasing demand.
“Additionally, the stable demand from our parent company Shanying International will contribute greatly to the efficiency and profitability of our collective business operations.”
