Thailand’s SCG Chemicals has agreed a deal to buy a majority stake in Portuguese plastic recycler Sirplaste.
Owned by Siam Cement Company (SCC), SCG Chemicals will buy 70% of Sirplaste’s shares with existing shareholders retaining 30%.
Sirplaste is the largest plastic recycling company in Portugal with an annual capacity of 36,000 tonnes. It typically processes HDPE, LDPE and PP.
In a statement, SCC said: “Investment in Sirplaste is one of SCG Chemicals’ important steps into plastic recycling business, which will lead to further opportunities in the development and improvement of recycling technology, as well as expansion of sales channels in European markets.”
The transaction is expected to be completed by the end of this year.
