Venlo accelerates circularity ambitions through Resitech acquisition

Queensland’s Venlo Holdings has announced the acquisition of plastic recycling business Resitech, which it says aligns with the company’s mission to improve Australia’s low rates of plastic recovery and recycling.

Resitech was founded in Brisbane in 1984 and can convert end-of-life low-density polyethylene (LDPE), linear low-density polyethylene (LLDPE), high-density polyethylene (HDPE) and polypropylene (PP) plastic into reusable resins.

Venlo’s companies include precast pool business Plungie, construction systems specialist BuildTuff, and Evolve Group, which is Venlo’s advanced manufacturing division and has been involved in numerous successful reshoring projects as a contract designer and manufacturer.

Venlo’s managing director Ty Hermans (pictured on right) said the group was already leading the nation in circular practices, and had a core focus on designing for circularity and decarbonisation.

“This acquisition accelerates our circular economy ambitions and expands our fully vertically integrated, closed-loop recycling program for our businesses and customers to reuse, repair and recycle items,” said Hermans in a statement on Friday.

“We intend to change Australia’s recycling landscape and empower major retailers, such as Wesfarmers and Super Retail Group, to implement a truly sustainable solution.”

Evolve’s CEO Paul Avery said that plastic being sent to landfill represented $3.1 billion in value thrown away every year in Australia.

“Resitech is on a mission to change that, and as a major consumer of plastic for manufacturing, Evolve is very pleased to be joining that journey,” he added.

Picture: supplied

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