Visionscape Announces the Acquisition of Soreplastic Business and Assets

Wednesday, Sep 20, 2017

Visionscape Group, an environmental utility company has announced the completion of the purchase of the business and assets of Belgian based Soreplastic. This transaction will enable Visionscape to offer a complementary range of services to municipalities, cities and businesses across its servicing markets.

Based in the Ardennes, Belgium, Soreplastic is one of Europe's most advanced and powerful recycling plants for used polyethylene. It brings to the Visionscape Group years of experience, starting in late 2011, the company primarily focuses on the recycling of polyethylene film, and has a capacity to process some 20,000 tonnes per year. Post-consumer film from global markets is recovered and converted back into high-grade PE repellets - a much sought-after raw material.

"We are very pleased to complete this transaction as we move ahead with our strategy to expand our portfolio. We look forward to working with our new team members, exploring the opportunities and maximizing the value that Soreplastic's innovative capabilities adds to the Visionscape Group. We are passionate about broadening our expertise and meeting the needs of the customers in the communities we serve," said Harry Ackerman, Executive Director, Visionscape Group.

Managing Director of Soreplastic, Vincent Sciascia will be staying on in his capacity. "We've had a long history of success and are very excited as we know Visionscape is the best suited home for us going forward. I know all parties involved will benefit greatly from this transaction." He adds that, "We look forward to working together and the new experiences for our staff as we access the global client base that we will enjoy under the Visionscape umbrella."

Completion of the transaction and asset purchase was closed on September 8, 2017 and was facilitated through the administrator Moyersoen and Partners.

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