One of our standout M&A transactions of 2023 was the acquisition of the New Zealand-based recycling expert, Compounding Specialist (Comspec).

The deal was carried out via Plastic Recycling New Zealand, a joint venture between Aliaxis and Waste Management NZ formed in 2022 to invest in plastic recycling solutions, turning plastic construction and demolition waste into recycled raw material.

Comspec fits that mission precisely. It processes polypropylene and high-density polyethylene into plastic pellets, handling over 2,000 tonnes of plastic resins a year. These resins are then used by plastic manufacturers across the country as fully recycled raw material.

The acquisition means we now have an improved supply chain of recycled material for our operations in the region, allowing us to reduce our carbon footprint and help our customers meet their own sustainability goals.

It’s further proof of our commitment to invest in circular economy initiatives and our continued determination to quadruple the amount of recyclate in our products, in line with our Growth with Purpose target for 2025.

The deal is an extension of our joint venture with Waste Management NZ, following our 2022 €7 million investment in a joint project to explore new ways to recycle plastic and put it to new productive use.

The investment is fully supported by the New Zealand Government and attracted a grant from the Ministry of Environment’s Plastic Innovation Fund.

Our operations in the Pacific have taken a strong lead in our recycling efforts. Overall, we have recycled close to five million kgs of plastic waste in the region, saving 6,400 kg CO2.

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