POLAND (News release) -- Recycled paper producer Saica Group has reached an agreement to acquire the majority of shares (76%) of Fox Recykling, a waste management company in Poland. Thanks to this acquisition, Saica strengthens its growth strategy in Eastern Europe and expands the footprint of one of its business divisions: Saica Natur.
This acquisition is part of the development plans of the company defined by Saica 2025, the strategic plan of the company. Fox Recykling is a well-established waste management company in the north of Poland, with more than 30 years of experience in the business and a solid portfolio of more than 400 customers in the region.
Back in 2011, Saica Group entered the Polish market through a joint venture with Thimm Group, acquiring a corrugated cardboard packaging plant in Tychy.
This new operation is an opportunity to increase Saica´s value proposition in waste management services in the European eastern market. It allows Saica to develop its waste management services while offering a wide range of services to new customers in the Polish market.
Fox Recykling is comprised of 34 employees. Last year, it managed about 45,000 tonnes of waste and the turnover was about Euro 9 million. Fox Recykling is located in Gdynia, a city in northern Poland as well as seaport on the Baltic Sea coast.
Saica Group is one of the largest European players in the development and production of recycled paper for corrugated board, with a production capacity of 3.3 million tonnes of recycled paper.
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