WM to buy majority stake in plastic film recycler

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The US's largest environmental services company WM announced on Tuesday that it is investing in plastics recycling, having agreed to acquire a controlling interest in Avangard Innovative's U.S. business.

With its holding in the newly-formed company, which will operate as Natura PCR, WM says it "expects to deliver new recycling capabilities for its customers and provide circular solutions for films and clear plastic wrap used commercially, such as plastic stretch wrap for pallets, furniture film, grocery bags and potentially shrink wrap around food and beverage containers." Avangard and affiliated entities would continue to hold a collective minority equity position in Natura PCR. The parties did not divulge any further details of the transaction, which is expected to close in late 2022 subject to customary closing conditions and regulatory approvals....

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