Campine continues growth in the circular economy with the acquisition of one plastics and two battery recycling factories
July 06 2022 - 10:50AM
Campine continues growth in the circular economy with the
acquisition of one plastics and two battery recycling factories
Occasional information – July 6th 2022 –
17:30
Campine NV, metals recycling and specialty
chemicals company from Beerse, Belgium and listed on Euronext
Brussels has acquired 3 recycling factories in France in the
context of the insolvency proceedings opened for the Recylex S.A.
group. With this, Campine continues its expansion plans in the
circular economy.
By a judgement dated July 6th 2022, the
commercial court of Paris approved the assets sale offer submitted
by Campine for selected assets of Recylex SA. Campine will
consequently become the new owner of the lead battery recycling
plants located in Escaudoeuvres (near Cambrai) and
Villefranche-sur-Saône (near Lyon), France, as well as the plastics
recycling company C2P, a subsidiary of Recylex SA, operating on the
same site in Villefranche.
The 2 Recylex sites employ about 60 people and
have a current recycling capacity of about 90,000 tonnes of
used batteries and 11,000 tonnes of PP (Polypropylene) plastic
waste. The acquisition is a substantial upstream expansion of
Campine’s battery recycling scope and adds recycled plastics as an
additional material output. The 2021 yearly sales revenue (as
reported by Recylex) of the acquired assets amounts to about 88
million €.
“This is a huge step for us” says CEO De Vos
“Campine is now really a multi material recycling enterprise. We
are one of the very few companies effectively recycling and
producing metals, chemicals and plastics. With the addition of the
2 battery breaker plants, we also realise a next step towards a
higher material recovery rate in our waste recycling processes.”
Campine also sees interesting opportunities in the circular economy
for plastics. “There are considerable synergies with our Specialty
Chemicals business in terms of technology and customer base and the
plastics recycling business offers plenty of chances for growth”
CEO De Vos concludes.
Today Campine produces about 60,000 tonnes of
refined lead metal from scraps (mainly used car-batteries). It does
presently not ‘dismantle’ nor break the batteries into the
different material fractions, but processes the complete battery in
the shaft furnace in Belgium. The new assets will allow Campine to
recover more materials in the recycling process, such as the PP
(Polypropylene) plastic from the outer casing of the battery.
Nicolas De Backer, who is appointed Managing Director of Campine
France, the French company wholly owned by Campine NV which was
specifically incorporated for the purpose of the acquisition,
specifies that ”We will maximise the output of the breaker
factories, by supplying the former Recylex customers and gradually
add the breaking of the batteries used on our Beerse site today.
The breaker sites will thus also become suppliers of our Belgian
lead smelter”.
Campine paid a total sum of about 0.75 million €
for the assets and a complement*. Campine takes control as of July
7th and has the economic responsibility going forward.
Campine will maintain employment in the 3
factories and plans about 8 to 10 M€ of investments in the next 4
years to improve efficiency and introduce new technologies. Campine
also aims to continue the relationship with the existing suppliers,
service providers and customers.
The transaction is completely debt free and none
of the Recylex debt-liabilities is transferred to Campine. All
legal proceedings against Recylex remain in Recylex SA, who will
continue to exist under the insolvency proceedings. Also the
environmental liabilities linked to the former Recylex smelter and
refining activities operated on the sites remains within Recylex,
with exception of those related to the acquired breaker
business.
* Campine paid a total sum of about 0.75 M€ for
the assets (including normalized stocks for Recylex SA and
normalized working capital for C2P) and a complement for all
additional stocks of raw material and finished goods of Recylex SA
and the additional available cash (above the normalized working
capital) of C2P. The final complement price will be subsequently
adjusted to the basis of the real amounts of such elements on July
7th 2022 and is estimated to about 3.5 M€.
For further information you can contact Karin
Leysen (tel. no +32 14 60 15 49)(email:
Karin.Leysen@campine.com)
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