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Nampak sells European plastics business as recycled material prices rise

 Last Update: 2022-08-21
 Source: Internet
 Author: User

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Packaging processor Nampak Plastics has sold its European branch (NPE) to UK-based Bellcave Ltd.
Nampak said the sale was driven by higher prices for recycled materials and a sharp drop in UK sales

NPE was actually listed for sale in August under the accelerated disposal process, a sales strategy traditionally applied to maximize stakeholder value during times of financial distress

Nampak chief executive Andre De Ruyter announced in 2017 that the company was restructuring its plastics operations in South Africa and Europe to make up for lost production as plastics revenues fell

plastic plastic

NPE is a supplier to the UK HDPE bottle dairy sector with a 34% share of the UK bottle market

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