South Korean builder SK ecoplant Co. had plastic waste recycling firms DY Polymer and DY Indus.
A stock purchase agreement was signed by SK with the two recycling firms before completing the acquisition procedures.
DY Polymer has been engaged in the production of pellets, the nation’s first recycled material made of waste PET bottles.
Meanwhile, DY Indus specializes in the production of flake, a material made by scrapping and washing waste PET bottles.
With these acquisitions, SK ecoplant hopes to increase domestic production of the highest-quality plastic flakes and pellets, which are now largely imported.
The business would also create a value chain with a positive feedback loop, and encourage facility renovation, digital transformation, and investment.
SK ecoplant is encouraging collaboration with other businesses, such as those that specialize in collecting and sorting plastic garbage and beverage producers that use PET bottles.