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Plastics recycler MBA Polymers plans expansions

February 25/2011

(Plastics Today) -- Post-consumer plastics recycler MBA Polymers (Richmond, CA) has secured $15 million of additional equity funding from Italian private equity company, Ambienta SGR, with plans to use the money to build new factories in Europe and Asia. As part of the investment, Ambienta founding partner and CEO Nino Tronchetti Provera has been named to MBA's board of directors.

MBA's most recent financing round, which commenced last summer, has generated a total of approximately $40 million. MBA Polymers currently operates three plants in Guangzhou, China; Kematen, Austria; and Worksop, England. The company says its customers include top global brands in electronics and appliances. MBA Polymers' 259 employees generated approximately $36 million in revenue in 2010, doubling its 2009 figure.

Ambienta SGR, which came to being in 2007, describes itself as the only Italian asset management firm created exclusively to manage environment friendly investments. MBA will be part of Ambienta SGR's Ambienta I fund.

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