Viborg, Denmark – Genan Holding AS has acquired the BioSafe tire recycling business of Portugese transport and construction equipment company Nors SA.
Expected to be completed by the end of the month, the deal will bring Genan’s total number of recycling plants to six, the Danish tire recycler said 2 April.
Founded in 1997 in Pardala, Portugal, BioSafe can process 25 kilotonnes per annum (ktpa) of end-of-life tires.
The acquisition brings Genan’s total recycling capacity to 375ktpa, according to the company's statement.
Genan said the move was “the logical next step” for its growing business, which is operating at nearly ‘maximum capacity.’
“A production unit in southern Europe will increase our total production capacity and make us more competitive in this region,” said group CEO Poul Steen Rasmussen.
Genan’s strategic focus, Rasmussen added, is to ‘develop new products and define new, environmentally-friendly applications for recycled end-of-life tires.’