UAE-based environment management company Visionscape has completed the purchase of business and assets Soreplastic, a Belgian recycling plant leader.
Visionscape offers sanitation, energy and wastewater treatment, and the acquisition will enable the UAE-based firm to offer a host of services to municipalities, cities and businesses across its servicing markets.
The Dubai-based company aims to reinvent waste management processes, specific to emerging markets, utilising latest technology and tools to address the waste management needs of megacities, TradeArabia News Service was reported stating.
Currently, Visionscape offers it’s across commercial, residential, industrial, and healthcare clients.
Visionscape executive director Harry Ackerman said: “We are very pleased to complete this transaction as we move ahead with our strategy to expand our portfolio. We look forward to working with our new team members, exploring the opportunities and maximizing the value that Soreplastic's innovative capabilities adds to the Visionscape Group.”
“We are passionate about broadening our expertise and meeting the needs of the customers in the communities we serve,” stated Ackerman.
Soreplastic is one of Europe's most advanced and powerful recycling plants for used polyethylene.
It brings to the Visionscape years of experience, starting in late 2011, the company primarily focuses on the recycling of polyethylene film, and has a capacity to process some 20,000 tonnes per year.
Post-consumer film is recovered from global markets and converted back into high-grade PE repellets - a much sought-after raw material.
As per the terms of the agreement, Vincent Sciascia, the managing director of Soreplastic, will be staying on in his capacity.
“We've had a long history of success and are very excited as we know Visionscape is the best suited home for us going forward. I know all parties involved will benefit greatly from this transaction,” Sciascia said.