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Stena has strengthened its position as a leader in Swedish recycling through the acquisition of IL Recycling. The Competition Authority has approved the transaction and the agreement was signed on June 30.
- We are very happy with the deal, which is strategically important for Stena. The acquisition will strengthen our total waste management offering and can provide our customers with more innovative solutions. IL Recycling has extensive experience in paper recycling, supplying recycled raw materials to the pulp industry, says Staffan Persson, President of Stena Recycling AB.
IL Recycling has approximately 700 employees with facilities at several locations in Sweden and Poland. The company recycles material primarily from office, retail and domestic waste.
- It is pleasing that we received the decision from the Competition Authority and that the deal can now be closed. This will be an exciting change for IL Recycling and we feel confident that Stena will be a financially secure, long-term owner, says Lars-Gunnar Almryd, President & CEO of the IL Recycling Group.
PLEASE DIRECT QUESTIONS TO:
Staffan Persson, President of Stena Recycling AB,
Lars-Gunnar Almryd, President & CEO of IL Recyclingkoncernen,
tel +46 706 519 379