Press release -
IL Recycling - now a company within Stena
Stena has strengthened its position as a leader in Swedish recycling through the acquisition of IL Recycling. The Competition Authority has approved the transaction and the agreement was signed on June 30.
- We are very happy with the deal, which is strategically important for Stena. The acquisition will strengthen our total waste management offering and can provide our customers with more innovative solutions. IL Recycling has extensive experience in paper recycling, supplying recycled raw materials to the pulp industry, says Staffan Persson, President of Stena Recycling AB.
IL Recycling has approximately 700 employees with facilities at several locations in Sweden and Poland. The company recycles material primarily from office, retail and domestic waste.
- It is pleasing that we received the decision from the Competition Authority and that the deal can now be closed. This will be an exciting change for IL Recycling and we feel confident that Stena will be a financially secure, long-term owner, says Lars-Gunnar Almryd, President & CEO of the IL Recycling Group.
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Stena Metall operates across seven business areas with a presence at over 200 sites in nine countries. Each year, the Group recycles and refines six million tons of waste and end-of-life products, and customers are supplied with essential raw materials, steel products, recycled aluminium and marine fuels. These products create value for customers, their customers, and the society as a whole.
Driven by innovation and sustainability, Stena Metall invests in research and development to tackle future challenges with forward-thinking solutions. With a team of 4,400 dedicated employees, the company works closely with partners to actively contribute to the development of the circular economy.
