Swedish recycling group Stena Metall will become IL Recycling’s new sole owner. The paper companies Stora Enso, Fiskeby Board, SCA and Smurfit Kappa want to part ways with their holdings in the Swedish recovered paper merchant and waste management company and will sell their shares to Stena, as several of the parties announced last week. The transaction is awaiting approval from Swedish and Polish anti-trust authorities.
IL Recycling is based in Solna, Sweden, and has a workforce of about 700 employees. The group generated revenues of about SEK2bn (€215m) in 2014. Company CEO Lars-Gunnar Almryd noted that IL Recycling had evolved from a dedicated raw materials company to a group with a growing service business. Against this backdrop, the owners came to the conclusion that the firm was in a good position for the next step in its development. The trend towards the circular economy requires resources for the development of new solutions for customers and sustainable treatment processes, and with Stena as its owner, the firm will have access to a broad network of expertise and new opportunities, Mr Almryd added.