WM Acquires Avangard Innovative
New business will operate as Natura PCR
Texas-based WM, formerly known as Waste Management, announced that it will acquire a controlling interest in Avangard Innovative’s U.S. business. WM will form a new company, Natura PCR, which will provide recycling solutions for plastic films and wraps.
Film Processing Line at Natura PCR
Photo Credit: WM
WM believes the acquisition will allow it to scale rapidly in the growing market for PCR. Demand is expected to continue to grow in response to brand commitments to increase recycled content in packaging, as well as pressure from consumers and regulators. WM has set a goal for the new company to be producing 400 million lb/yr of post-consumer resin in five years.
To meet this goal, Natura PCR plans to increase capacity at the existing Avangard recycling plant in Waller Tex., and build new plant capacity in the midwest.
The transaction is expected to close in late 2022, subject to customary closing conditions and regulatory approvals.
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