Austrian firm buys Turkish recycling company

İZMİR

Hamburger Recycling, a part of Austria-based Prinzhorn Group, said it has signed an agreement to purchase İzmir-based recycling company Kastaş Kağıt in a statement on Nov. 3.

“With the acquisition of Kastaş we are happy to have found our perfect match in Turkey. It also marks a major step towards the supply of our recently announced paper mill project in Kütahya,” said Andreas Walser, MD of the Hamburger Recycling Division.

Kastas is perfectly set to gain a strong foothold in the collection and trading of secondary raw materials for the Hamburger Recycling Division, the company stated.

It re-enforces the Prinzhorn Groups approach towards a sustainable lifecycle management of valuable raw materials, it added. Including the additional recycling site, Hamburger Recycling reaches a total recycling capacity of 145,000 tons of paper for recycling per year in Turkey, according to the statement.

Hamburger Recycling operates 32 recycling centers in 12 countries with a total capacity of 1,350,000 tons of paper for recycling per year.