SCG Chemicals to acquire a 70% stake in Sirplaste.

SCG Chemicals, chemicals business of SCG, agreed to acquire a 70% stake in Sirplaste, a plastic recycler in Portugal. Financial terms are not disclosed. "Sirplaste and SCG share a common interest in resource maximization. The joint management and exchange of expertise will help speeding up the development of technologies and recycled resin innovations at a faster pace. The high-quality PCR produced by Sirplaste have been certified by EuCertPlast, the Europe-wide certification scheme that validates traceability of feedstock in the production of PCR. Customers, brand owners, and consumers can rest assured that they are provided with transparency of feedstock origin, which helps reduce waste and add value to post-use plastic," Ricardo Pereira, Sirplaste CEO.