With the acquisition, SCG Packaging will attain an additional one million tons per year of recovered paper.
SEATTLE (Scrap Monster): SCG Packaging Public Company Limited announced entry into the packaging materials recycling business in the Netherlands.
According to official press release, SCGP Solutions (Singapore) Pte. Ltd., a wholly owned subsidiary of SCGP has completed 100% stake acquisition in Peute Recycling B.V.- a Dordrecht-based international packaging materials recycling company that processes both recovered paper and plastic. Incidentally, Peuteis the country’s largest independent packaging materials recycling and trading company.
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With the acquisition, SCG Packaging will attain an additional one million tons per year of recovered paper. Furthermore, it will strengthen its integrated packaging business, while augmenting its ability to fulfil consumers’ rising needs for sustainable packaging solutions with the help of leading technologies.
The investment will enable SCGP to quickly expand and grow in the packaging materials recycling business and is aligned with the growing global awareness of sustainability.
Commenting on the milestone deal, Mr. Wichan Jitpukdee, CEO, SCG Packaging noted that the acquisition is an important pillar of the company’s long-term strategy to strengthen all levels of packaging business. The financial performance of Peuto will be consolidated from July this year onwards, he added.
