** Polygreen has completed the acquisition of Vasilakopoulos Recycling S.A., a company active in the collection and sorting of recyclable materials.
** With this acquisition, Polygreen aims to vertically integrate its recycling services.
Athens, March 2, 2022 –Polygreen, a leader in environmental protection, has made a significant investment and has announced the acquisition of Vassilakopoulos Recycling S.A., a company active in the collection and sorting of recyclable materials. This acquisition is the first step in Polygreen's ambitious investment plan for 2022, aimed at offering its customers in Greece a complete and integrated waste management service package.
With its acquisition of Vassilakopoulos Recycling S.A., Polygreen is upgrading its facilities and strengthening its infrastructure in Greece, adding to its capacity an operational and profitable unit with privately owned land in the heart of the industrial area, in Aspropyrgos, Attica, modern equipment and an outstanding fleet of vehicles. At the same time, it is vertically integrating its recycling services, additionally undertaking the collection, sorting, transportation and compacting of materials, while expanding its existing clientele through the network of the newly acquired company.
Mr. Athanasios Polychronopoulos, President and CEO of Polygreen said, "It is with great emotion that we take over this unit from the Vassilakopoulos family and George Vassilakopoulos himself, a man who pioneered in Greece in the areas of society and sports as well as in the field of recycling and environmental care, with such vision, consistency and innovation. With the acquisition of Vassilakopoulos Recycling S.A., we are expanding Polygreen's portfolio of the services we offer to our customers, with the aim of soon becoming a one-stop-shop for all those interested in the proper management of their recyclable waste. Our first concern is to radically increase the plant's production volumes, thereby increasing its turnover. At the same time, we are dynamically continuing our investment plan for this year, remaining true to our commitment to lead the transition from a linear to a cyclical model of the economy, which is now a central political priority on the international level."
Polygreen is a Greek-owned company, founded in 2018 and launched in Greece in March 2021, operating in Europe, the Middle East and Africa. It undertakes and successfully implements highly demanding, technically challenging projects around the world in the fields of circular economy as well as environmental protection and remediation. In 2021, the total amount of its investments in Greece and abroad exceeded EUR 20 million, which included, among other things, the purchase of a special vessel for the treatment and remediation of marine pollution and the development of its presence and infrastructure in the Middle East and Africa, as well as the organization and strengthening of its infrastructure in Greece.