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BEWiSynbra establish recycling company in Denmark

July 14/2020

MOSCOW (MRC) -- BEWiSynbra Group, a leading producer of expandable polystyrene (EPS) in Europe, announces that it has entered into an agreement to acquire certain assets deriving from the Danish recycling company EPS Recycle, and thereby establish the recycling company BEWiSynbra Circular Denmark A/S, said the company.

"I am very pleased that we have established BEWiSynbra Circular Denmark A/S, confirming our commitment to lead the EPS industrys change towards a circular economy. This acquisition fits very well with our strategic priorities," says Jonas Siljeskar, CEO of BEWiSynbra Group.

BEWiSynbra has launched an ambitious target of recycling 60,000 tonnes of EPS annually. Since the launch of BEWiSynbra Circular in October 2018, the group has acquired three recycling companies, established a recycling company in Portugal and introduced several recycling initiatives. With the acquisition of assets deriving from EPS Recycle, BEWiSynbra will expand and strengthen its activities for collection and recycling of EPS in Denmark. The operations will be run as BEWiSynbra Circular Denmark A/S and headed by Karl Erik Olesen, who is also the Managing Director at BEWiSynbra Denmark A/S.

"I am very excited about this acquisition that enables us to further develop our recycling activities. The operation solves a waste problem by transforming cellular foam into plastic granules that can be used in new plastic and EPS products, and thereby contribute to establishing an efficient resource loop, says Karl Erik Olesen, Managing Director of BEWiSynbra Circular in Denmark.

As MRC informed earlier, Sulzer Chemtech has completed the design, installation and start-up of an advanced production line for expandable polystyrene (EPS) for the BEWiSynbra Group.

As per ICIS-MRC Price Report, spot prices of Russian EPS grew to the range of Rb90,000-96,000/tonne CPT Moscow, including VAT. Spot prices rose in July, despite lower contract prices. Formula prices for the largest buyers fell to the lowest level - Rb81,000-82,000/tonne CPT a converter's warehouse, including VAT, in July. Their recovery is expected in the coming months.  Prices of Chinese plants were still in the range of USD990-1,020/tonne CFR St Petersburg, excluding VAT, this week.

BEWiSynbra Group is one of the largest vertically integrated producers of expandable polystyrene (EPS) in Europe, focusing on sustainable solutions for packaging and components, as well as insulation. Innovation is a key driver for the Groups competitive advantage and sustainability, and BEWiSynbra has an ambitious approach to its recycling initiatives.
Author:Anna Larionova
Tags:PS, EPS, BEWiSynbra Group.
Category:General News
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