NextChem Tech ups stake in MyReplast Industries and MyReplast
Published by Callum O'Reilly,
Senior Editor
Hydrocarbon Engineering,
NEXTCHEM’s subsidiary, NextChem Tech, has acquired an additional 34% stake in both MyReplast Industries S.r.l. and MyReplast S.r.l. from an existing stakeholder.
The transaction allows NextChem Tech to increase its interest from 51% to 85% of the share capital of both companies, while the remaining 15% is still held by a local entrepreneur. The overall maximum consideration is about €8.9 million, of which €5.1 million due by closing and €3.8 million deferred (including an earn-out) to be paid on an annual basis according to several milestones until 31 December 2027.
Based in Bedizzole (Northern Italy), MyReplast Industries has been part of the NextChem family since 2019, representing the flagship of the upcycling business cluster which also includes other production and trading entities based in the UAE.
In Italy, it owns and operates the Bedizzole industrial plant which applies an innovative mechanical upcycling process to produce high-purity recycled and compounded polymers (r-polymers) based on NX Replast proprietary technology patented by MyReplast S.r.l. These recycled polymers are suitable to replace fossil-based virgin materials in several industrial applications (such as automotive, pipes, building applications, etc.).
NX Replast proprietary technology has recently been selected by Aliplast, part of Italian multiutility Hera Group, for its new plastic upcycling project to be implemented in Modena. MyReplast Industries, after having increased the Bedizzole plant production capacity up to 40 000 tpy of polyolefin rigid plastic waste, has recently been selected - in the framework of Italy’s National Recovery and Resilience Plan - to receive funding for an innovative circular economy project to enhance process automation, ensuring the highest level of safety and quality of the production lines.
Read the article online at: https://www.hydrocarbonengineering.com/the-environment/22042024/nextchem-tech-ups-stake-i-myreplast-industries-and-myreplast/
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