SAICA Group buys majority stake in Poland’s Fox Recykling

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Spanish mill group SAICA has bought 76% of the shares of Polish waste management company Fox Recykling.

As part of the acquisition, Fox Recykling will be integrated into its waste management and environmental services division SAICA Natur.

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Based in the north of Poland, Fox Recykling has been established for more than 30 years and has 400 customers in the region and has a turnover of around €9 million (£7.88 million).

In 2011, SAICA entered the Polish market through a joint venture with Thimm Group when it acquired a corrugated packaging plant in Tychy owning 49% of the shares.

SAICA Group president Ramón Alejandro said: “This milestone is a step forward in Saica’s business growth strategy, not only by continuing our expansion into the Polish market with Saica Natur but also with the aim of further developing our infrastructures and services in this market.”