SCG Packaging Public Company Limited (SCGP) has completed the transaction to acquire 100% stake in Peute Recycling B.V. (Peute), the largest packaging materials recycling company covering both recovered paper and plastic in the Netherlands. Payment for the 100% stake is the immediate Euro 78.19 million (approximately Baht 2,875 million).

Waste paper

SCG Packaging acquires Peute Recycling for Euro 78.19 million

SCG Packaging Public Company Limited (SCGP) has completed the transaction to acquire 100% stake in Peute Recycling B.V. (Peute), the largest packaging materials recycling company covering both recovered paper and plastic in the Netherlands. Payment for the 100% stake is the immediate Euro 78.19 million (approximately Baht 2,875 million).

Peute is the largest independent packaging materials recycling and trading company of paper and plastic in the Netherlands with a strong relationship with customers for over 60 years. The Company recorded a revenue of Euro 249 million (approx. Baht 9,160 million) in 2021 with a profit of Euro 3.2 million (approx. Baht 120 million) and assets of 52 million Euro (approx. 1,930 million Baht) at the end of last year.

Peute currently poses the ability to competitively source 1.0 million tons per year of recovered paper (RCP) and 0.1 million tons per year of recovered plastics at their facility in Dordrecht with ongoing project to relocate the facility to Alblasserdam, nearby Rotterdam port, to double the sourcing capacity and improve cost management efficiency.

Mr. Wichan says he is confident that the latest investment will enable SCGP to quickly expand and grow in the packaging materials recycling business which is one of the integral parts of the Company’s long-term strategy to strengthen all levels of packaging operation, covering from upstream to downstream production, while also enhance the internal integration of SCGPs’ packaging solutions.

The investment is aligned with the growing global awareness of sustainability, which leads to significant increase in the usage of recycled materials. The ability to directly access greater volumes of recovered paper and plastic will enable SCGP to meet the surging market demands as part of the evolving consumer trends. Furthermore, Peute’s expertise in advanced waste management and related technologies would help strengthen SCGP’s efficiency in packaging materials recycling operation in ASEAN.