11 Mar – KRUSCHITZ Steinbeis Holding acquires Austrian plastics recycler Kruschitz / Buyer breaks new ground
Plastics recyclers are in demand. With effect from 25 February 2019, Steinbeis Holding (Munich / Germany; www.st-holding.de) acquired Kruschitz (Völkermarkt / Austria; www.kruschitz-plastic.com) and its subsidiary Plast Compound Kunststoffproduktions. No details were given on the purchase price.
The Kruschitz group has two sites in Austria – in Völkermarkt and Kühnsdorf – and a branch in Weißenhorn / Germany. The recycler processes both industry and post-consumer plastics waste (LDPE, HDPE, PP, PVC, PS, PET, PA and PMMA). Media reports estimate a total input capacity of 100,000 t/y. A Kruschitz spokesperson was unwilling to comment on the figure.
Steinbeis said the sale of Kruschitz takes the generational transition pending in the medium term into account. CEO Werner Kruschitz will continue to attend the process along with Philipp Neumann. The German holding company is breaking new ground in plastics recycling with this acquisition. The group’s recycling portfolio previously included paper and substitute fuel as well as a biomass power plant.
Multiple plastics recyclers changed ownership in the past two years. Among the most relevant are the Borealis takeover of mtm plastics and Ecoplast – see Plasteurope.com of 03.06.2016 and 20.07.2018 – as well as the purchase of Quality Circular Polymers by LyondellBasell and waste management company Suez – see Plasteurope.com of 31.11.2017 – and Remondis’ acquisition of LKR and Infinitum Recycling – see Plasteurope.com of 14.06.2018. The takeover of DSD by Remondis – see Plasteurope.com of 01.10.2018 – is currently being examined by the German federal cartel office.