Warmotech GmbH, part of the Finnfoam Group, has acquired a competing business from polyurethane recycler and manufacturer Bosig Baukunststoffe, a unit of Bosig GmbH, in a deal worth over €10 million.

The transaction brings into the group a 70-employee plant in Elsterwerda, south of Berlin. The site uses recycled polyurethane insulation to produce insulation board blanks for the furniture industry and frame-profile blanks for door and window makers. Finnfoam plans to triple recycling capacity to 15,000 tonnes of PUR/PIR over the next few years.

“We give industrial insulation materials a new life by processing selected PUR/PIR production waste into sheets and profiles. We are actively working to expand our operations and partnerships across Europe,” said Nerijus Česnavičius, CEO and founder of Warmotech UAB. Warmotech GmbH’s parent is Lithuania-based Warmotech UAB, which is owned by Finnfoam UAB.

Finnfoam CEO Henri Nieminen said the Elsterwerda site offers significant expansion potential, with 10+ hectares of land, 17,000 m² of covered space, and a rail connection for moving large volumes across Europe. Finnfoam will invest more than €2 million in machinery and equipment this year and at least the same again in subsequent years. The plant also has room to host additional Finnfoam and FF-Future recycling operations, including polystyrene and PET.

Across the group, FF expects to recycle over 10,000 tonnes of plastic waste this year for use in new products, with a goal to more than double capacity within the next two years.

Source: Kauppalehti