Monbat AD acquired recycling facilities in Italy
Corporate
Piombifera Italiana S.p.A. was incorporated in 1978 in Italy and today is one of the three largest companies for batteries recycling in the country.
The licensed processing capacity of the plant is 70,000 tons per year. The recycling plant will be integrated into the structure of Monbat Recycling EAD as part of the newly established subsidiary Monbat Italy SRL. The acquisition of new recycling facilities is part of the group’s strategy for growth through geographic diversification of capacities.
The acquisition decision was adopted by the management after a successful completion of the due diligence process. The management of Monbat AD expects the acquisition agreement to be signed by the end of September 2017.
The decision for acquisition of additional recycling facilities is due to the increased demand for raw materials for production of lead batteries of the plants of Monbat AD and Start AD as the scrap market in Italy is one of the most developed in Europe.
After signing the acquisition agreement, Monbat AD will notify the public and relevant regulatory authorities immediately.
contact for media
Vanya Babanin, PhD
Director Marketing & Communications
tel. +359 888 244 178
e-mail: media@monbat.com
contact for investors
Daniela Peeva
Investor Relations Director
tel. +359 2 988 2413
e-mail: investorrelations@monbat.com