Campine makes an offer on a selection of assets from Recylex France

0

Occasional information – April 15and2022 – 08:30

Kempen AGmetal recycling and specialized chemical company in Beerse, Belgium and listed on Euronext Brussels has submitted a binding offer for a selection of assets from the Recylex SA group.

Recylex SA, a French metal recycling company listed on Euronext Paris, has been experiencing financial difficulties for several years, which led to the bankruptcy of its German entities, the group’s main industrial assets, in mid-2020. Recylex has launched a debt restructuring process in 2021 in which it seeks to sell several of its remaining French assets.

Kempen offered to acquire the lead battery recycling plants in Escaudoeuvres and Villefranche-sur-Saône, France as well as the C2P plastics recycling unit, located on the same site.

The 2 Recylex sites employ around 60 people and recycle a total of around 80,000 tonnes of batteries. This offer is part of Campine’s expansion plans to develop in the circular economy by increasing its material recovery rate as well as by starting to recycle plastics. Kempen intends to integrate the two plants into its industrial operations, while preserving employment, and plans substantial investments in the future at both sites. Kempen also aims to continue the relationship with existing suppliers, service providers and customers.

Campine’s offer is currently being evaluated and is subject to various conditions precedent related to environmental liabilities and obligations as well as administrative authorizations. The impact of the proposed price on Campine’s finances is limited. The offer will then be filed with the commercial court of Paris and will remain subject to its approval.

For more details on Recylex’s situation, we refer to Recylex’s press releases, available at https://recylex.eu/en/publications/

For more information you can contact Karin Leysen (tel. +32 14 60 15 49)
(email: [email protected])

©OMX, source GlobeNewswire – EU Press Releases

Share.

Comments are closed.