Suez SA announced that its environmental unit SITA Deutschland GmbH bought BellandVision GmbH, a German licensing and service company for recycling manufacturing and retail packaging. Financial details were not disclosed.Suez now holds 68.4 percent of the shares of BellandVision.
In a statement, Suez noted that the German waste market is growing, and is presently valued at around $2.2 billion. The acquisition will allow Suez to better position itself in this sector.
BellandVision operates a packaging recycling contribution system with 100 retail companies and 1,800 manufacturers.
With the acquisition SITA Deutschland, which operates 123 facilities in Germany, will expand its services by entering a new market, becoming a large collector and recycler of packaging in Germany.
The German market for collecting and recycling of packaging has come from a single operation, the Duales System Duetschland Gmbh. Since then, other companies have entered the market, including BellandVision.
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