Sirmax aquired 100% of SER in Salsomaggiore Terme specialized in plastics recycling, with a 15 million euros revenue and 30 employees.
This acquisition is a 1st step of a bigger project aimed to became an important global player in the circular economy business on the main market segments. Sirmax Spa is the 4th worldwide independent producer of polypropylene compound for automotive industry, home appliances, electronics and power tools. Company revenue rose to 300 million euros (+15%) with an Ebitda of 25 million euros (8,2%) and 600 employees around the world.
During the three year-period 2019-2021, the company aims for doubling turnover in 5 years thanks to 80 million euros investments.
SIRMAX BUYS S.E.R. MOVING TOWARDS THE CIRCULAR ECONOMY WITH “GREEN” COMPOUNDS
Massimo Pavin, CEO of Sirmax, states: «We are integrating a top player in terms of know-how and managerial capabilities. We want to play a major role in the sustainability challenge»
(Cittadella, January 25th 2019)
Sirmax SPA pursues its global growth with the strategy of the external lines and of being “multi-countries” and “multi-products”, moving towards the circular economy. The company bought 100% of S.E.R. (Società Europea di Rigenerazione SRL, located in Salsomaggiore Terme).
Founded in 1989, S.E.R. has more than 30 years experience in plastics recycling and reached a turnover of 15 million euros in 2017 thanks to the recycling of 20 thousand tons/year of plastics waste coming from differentiated urban waste collection.
With the acquisition of S.E.R., Sirmax consolidates its business model, completes and strengthens its portfolio of products and services and embraces the challenge of sustainability.
The company has been growing thanks to greenfield investments in Poland, Brazil and U.S.A. and also with the acquisition of Sirte (1997), Arcomax (2002), Nord-Color (2015) and the joint venture with Autotech Polymers in India (2017). Sirmax is globally present in the automotive and home appliances sectors with polypropylene compounds, engineering plastic compounds and thermoplastics elastomers. Now the company looks for becoming a key figure in the development of the circular economy.
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