The headquarters of SK ecoplant Co. in central Seoul (Yonhap)
SEOUL, Aug. 25 (Korea Bizwire) — South Korean builder SK ecoplant Co. said Wednesday it had signed a stock purchase agreement with DY Polymer and DY Indus, both specialized in the recycling of plastic waste, and completed the acquisition procedures.
DY Polymer has been engaged in the production of pellets, the nation’s first recycled material made of waste PET bottles, while DY Indus specializes in the production of flake, a material made by scrapping and washing waste PET bottles.
With these acquisitions, SK ecoplant plans to promote the localization of the highest-grade plastic flakes and pellets, for which the country relies heavily on imports, as well as to establish a virtuous cycle value chain.
On the basis of the acquisitions of the plastic waste recycling companies, SK ecoplant also plans to promote facility investment, digital transition and facility modernization.
Furthermore, it aims to reduce the reliance on imports of plastic waste recycled materials and to enhance the capability of responding to global regulations.
The company added that it is also striving to promote cooperation with other companies, including those specializing in the collection and sorting of plastic waste and beverage companies that make use of PET bottles.
Ashley Song (ashley@koreabizwire.com)
