CANADA – NexKemia, a subsidiary of Integreon Global has finalized the purchase of Quebec-based polystyrene scrap collection and recycling company Eco-Captation.
Integreon Global ensures product integrity and protection through innovative materials, testing services, packaging and monitoring solutions, and contract manufacturing.
Meanwhile, Eco-Captation is a leading recycler of polystyrene wastes and has a special focus on post-consumer recycled materials.
The company combines artificial intelligence-enhanced optical sorting technology with a seamless mechanical recycling process to convert plastic waste into high-quality raw materials made with post-consumer recycled material.
Maurice Barakat, President & Chairman of Integreon Global, said: “We are proud to be welcoming Eco-Captation into the Integreon family, and look forward to growing as we learn from their substantial recycling expertise.
“We are excited to employ technology to reduce the carbon footprint of the packaging and insulation solutions developed for customers.”
According to NexKemia, Eco-Captation will become integral to developing an end-to-end circular model for EPS solutions.
“Scaling up Eco-Captation’s technologies will allow NexKemia to rapidly grow our capacity for sustainable expandable polystyrene (EPS) solutions that incorporate a significant percentage of post-consumer recycled material,” said Pierre Beaudry, General Manager of NexKemia.
The agreement represents another step for NexKemia as a mechanical recycling hub. The products resulting from the Eco-Captation acquisition will be used by NexKemia and its parent company, Integreon Global, in day-to-day applications where sustainability and circularity elements are essential, including high-performance cold chain packaging solutions and construction material.
The acquisition comes at a time when the market of North American expandable polystyrene (EPS) is projected to grow at a CAGR of 4.75% by revenue and 4.03% by volume in the estimated years 2019-2028, according to Triton Market Research.
Triton Research Market notes that the increased growth is being influenced by the rising demand for flexible packaging particularly in Canada, owing to the increase in the exports of packaged foods. Thus the flourishing packaging sector is boosting the demand for expanded polystyrene in the nation.
In addition, the cost-effectiveness of flexible packaging and the increased penetration of digital printing & e-commerce are also helping the market to reach its expected growth rate.
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