Eltex Recycling started operating in Romania in 2012 as a subsidiary of Eltex Kft., one of the largest waste management companies in Hungary, founded 31 years ago, owned and run by Vass Zoltan and Vermes Peter.
Green Group consists of several recycling companies and has an installed recycling and production capacity of 460,000 tons a year. Investment fund Abris Capital Partners bought the majority stake in the group in 2016.
Green Group recycles all major types of waste, including PET, electrical and electronic waste, glass, lamps and batteries. The group expanded to Slovakia and Lithuania at the end of 2019, where it operates two modern PET recycling facilities.
“Acquiring Eltex Recycling is a new step towards a circular economy, We will develop recycling as a service, integrating industrial waste in new products,” said Green Group president Constantin Damov.
Eltex Kft CEO Vass Zoltan said the deal will allow Eltex Recycling to radically increase its market share in the region and benefit from the synergy of activities in the group.