UK recycling company DS Smith has purchased the remaining stake of Italian recycling firm Italmaceri.
After acquiring 50 per cent of Italmaceri as part of its acquisition of SCA Packaging in 2012, DS Smith now owns the rest of the business.
Italmaceri is the second largest recycling company in Italy and handles in excess of 500,000 tonnes of recovered fibre per annum. It has its headquarters in Torino, with operations in Ancona, Casarile, and Novara.
DS Smith chief executive Miles Roberts said: “The purchase of Italmaceri is consistent with DS Smith’s strategy to lead the way in recycling. It builds on our market leading position in Europe and will allow us to grow our closed loop recycling model in Italy, where we already have packaging and paper operations.
“We want to provide our customers not only with excellent packaging, and a world class recycling service, but solutions to all elements of their supply cycle.”
The Italian recovered paper market is the fourth largest in Europe, but has a recycling rate of 63.3 per cent, which is lower than the European average of 71.7 per cent.
DS Smith believes this offers the potential for it to target and grow volumes through the commercial/industrial (including retail, wholesale and manufacturing) and municipal markets.
The company will be building on existing market and geographic presence to roll out to a wider base.