A family-run glass recycling specialist with plants in Cheshire and South Wales has been acquired by a European group in a “new era” for the company and its workforce.
Recresco, which has plants in Cwmbran and Ellesmere Port, has been incorporated into Portugal’s BA Glass Group after its sale by the Gent family.
Recresco was founded in Norfolk in 1978 and supplies cleaned and crushed glass cullet to businesses around the 海角视频 and Europe.
READ MORE: {}
BA Glass is the fourth largest glass packaging producer in the world, with 5,000 employees and a turnover of almost €1.6bn. It operates 14 glass plants across Europe.
In a statement, Recresco said: “The directors and shareholders have always been mindful of their responsibility to provide a stable and sustainable platform for growth for the benefit of the environment as well as our employees. The acquisition of Recresco by BA Glass is in the best interests of all stakeholders including the valued team of conscientious Recresco employees and their families.
“Recresco enjoys an excellent reputation around the world and is recognised as a market leader. The family and the Recresco team have enjoyed growing and developing the business, especially seeing the application of the latest technology and its impact on recycling and recovery rates.
“The family believes that BA Glass will be an excellent next custodian of the Recresco brand and will remain involved in the business under the new ownership.”
Recresco has its head office in Nottinghamshire. It employs some 40 people at Cwmbran and 50 at Ellesmere Port.
Most Read
Tim Gent, Recresco’s general manager added “Partnering with BA Glass represents a unique opportunity for our team to participate actively in future recycling projects in other geographies, where BA Group has its operations, leveraging our know-how and experience in the recycling of glass”.
Isca Ventures and Ashfords Solicitors supported Recresco, whose head office is in Nottinghamshire, with the transaction.
Sandra Santos, CEO of BA Glass, said: “The acquisition of Recresco is an extremely valuable opportunity to access high-quality recycled glass, representing a significant step towards our goal of reducing 50% of CO2 emissions by 2035.
"Incorporating a higher percentage of recycled glass in our products will allow us to be nearer to closing the glass loop and make the glass the most sustainable packaging material in the world.”