Dec. 5, 2023 - Spanish recycled paper manufacturing company Saica Group has reached an agreement to acquire the total shares of the waste management and collection company, Ecovidal-Miguel Vidal e Hijos. Through this acquisition, Saica's waste management and environmental services business, Saica Natur, strengthens its presence in the Henares corridor — an important business, industrial and residential area in the northeast of the Madrid region of Spain.
Terms of the deal were not disclosed.
Ecovidal manages up to 53,000 tonnes of waste annually, the vast majority of which (92%) is paper and cardboard. The acquired company has 25 employees and in 2022 had a turnover of 10 million euros.
Located in the municipality of Torrejón de Ardoz (Madrid) with a warehouse spanning almost 16,000 square metres, Ecovidal has been supplying recycled paper to Saica Paper mills for over four decades, establishing a long-standing business partnership.
Based in Spain, Saica Group is a leading manufacturer of recycled paper for corrugated board with an annual production capacity of 3.3 million tons. Saica Group has four business lines: Saica Paper (manufacture of recycled paper for corrugated board), Saica Natur (waste management and environmental services), Saica Pack (production of corrugated board packaging), and Saica Flex (flexible packaging).
SOURCE: Saica Group
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