German-based plastic pallet supplier Cabka has announced that it has acquired fellow German company Systec Mixed Plastics (SMP), which makes ultrapure granules, compounds and other plastics from mixed recycled materials, the company will now be known as Cabka Genthin.
Cabka states that the acquisition will see its recycling capacity rise by 15% and that its Eco-Products business will be strengthened. No financial figure was disclosed for the deal.
SMP acquired its Genthin, Germany location in 2012 as part of Duales System Holding. The Genthin site currently employs 34 people.
Michael Wiener, CEO of Duales System Holding said: “The recycling of mixed plastics is no longer one of our core strategic activities. Which makes the timing of the acquisition perfect. Cabka will give the company new inspiration.”
The deal will see Cabka expand its raw material capacity by nearly 50,000 tonnes. The company states that all employees of the new Cabka Genthin will be incorporated into the Cabka Group, bringing its total staff to around 570 people.