Furniture retailer Ikea Group has purchased a 15 percent minority stake in Dutch plastic recycling plant Morssinkhof Rymoplast Group as part of its $1.07 billion budget for long-term sustainable resource supply.
Morssinkhof recycles used plastics from both consumers and industrial partners, and it has a processing capacity of 200,000 metric tons, which is expected to increase with Ikea’s investment.
Plastics News has more information:
Furniture giant Ikea Group has acquired a 15 percent minority stake in Morssinkhof Rymoplast Group, a Dutch plastic recycling plant.
In a Feb. 3 statement, the Swedish company said the move signified the importance of “circular economy” for Ikea.
The purchase is part of the company’s 1 billion euro ($1.07 billion) budget for long-term sustainable resource supply.