Israeli plastics recycling company K.B. Recycling Industries, which trades under the name Alkemy has acquired Spanish plastics manufacturer Plastics Flome.
Alkemy has developed a process that allows it to recycle plastics bags and sheets that are traditionally not considered economically viable for recycling.
Plastics Flome uses plastic sheets and boards as raw materials for manufacturing trays and packaging for automotive, agriculture and beverage industries. Plastics Flome will now also use content from Alkemy in its products.
The value of the purchase if €1.8 million (£1.55 million).
Alkemy chair Yoav Horowitz said: “Flome will use Alkemy’s recycled plastic sheets for its current products while developing additional value-added products that can utilise Alkemy’s recycled plastic sheets.
“By using Alkemy sheets Flome will offer products made from recycled plastic and thus increase the attractiveness for its customers who increasingly want to reduce their carbon footprint.”