Visionscape, a UAE-based environmental utility group providing turnkey solutions in areas of sanitation, energy and wastewater treatment, said it has completed the purchase of the business and assets of Belgian recycling plant leader Soreplastic.

This transaction will enable Visionscape to offer a complementary range of services to municipalities, cities and businesses across its servicing markets. It was facilitated through the administrator Moyersoen and Partners, said the company in a statement.

The Dubai-based company aims to reinvent waste management processes, specific to emerging markets, utilising cutting-edge technology and tools to address the waste management needs of megacities.

Visionscape also offers services for commercial, residential, industrial, and healthcare clients, the statement added.

On the buyout, Harry Ackerman, the executive director, Visionscape Group, said: "We are very pleased to complete this transaction as we move ahead with our strategy to expand our portfolio. We look forward to working with our new team members, exploring the opportunities and maximizing the value that Soreplastic's innovative capabilities adds to the Visionscape Group."

"We are passionate about broadening our expertise and meeting the needs of the customers in the communities we serve," stated Ackerman.

Based in the Ardennes, Belgium, Soreplastic is one of Europe's most advanced and powerful recycling plants for used polyethylene. It brings to the Visionscape years of experience, starting in late 2011, the company primarily focuses on the recycling of polyethylene film, and has a capacity to process some 20,000 tonnes per year.

Post-consumer film from global markets is recovered and converted back into high-grade PE repellets - a much sought-after raw material.

As per the terms of the agreement, Vincent Sciascia, the managing director of Soreplastic, will be staying on in his capacity.

"We've had a long history of success and are very excited as we know Visionscape is the best suited home for us going forward. I know all parties involved will benefit greatly from this transaction," remarked Sciascia.

"We look forward to working together and the new experiences for our staff as we access the global client base that we will enjoy under the Visionscape umbrella," he added.-TradeArabia News Service