Paprec commits to more extensive metal recycling
Basel/Muttenz/Paris - The Paprec Group from France is in the process of completing two takeovers. Multimetall AG from Muttenz is to be integrated into the Basel-based Paprec Swiss Group. As is the case with Multimetall, the other firm to be acquired, Alsarec, specializes in the area of metal recycling.
(CONNECT) The Paris-based Paprec Group is set to complete the acquisition of two companies exclusively involved in the metal recycling business for the first time, according to a statement. Multimetall AG, which is based in Muttenz in the Swiss canton of Basel-Landschaft, will be integrated into the Paprec Swiss Group. “Multimetall’s expertise in the metal trade and recycling strengthens our national presence and our service portfolio”, comments Christoph Gence, CEO of Paprec Swiss Group.
The second company being acquired is Alsarec from Rosenau in Alsace, France, which specializes in the recycling of metal cables. “Metal recycling is vital from both an economic and ecological point of view”, comments Mathieu Petithuguenin, Chairman and CEO of the Paprec Group. “It reduces both CO2 emissions and the need to extract primary raw materials. With this first acquisition of two metal recycling specialists, we are taking a key step in the ecological transformation and decarbonization of the economy. At the same time, new market opportunities are opening up in France, Switzerland and Germany”, he adds.
Paprec states that Multimetall has generated revenues of 32 million Swiss francs, while all ten of its employees are to be retained following the takeover. “Paprec will make the necessary investments to secure long-term growth”, as Christian and Jean-Marc Wallach, the co-Managing Directors of Multimetall, explain in the statement. ce/jh
