Aquafil strengthens its End-of-life Nylon Procurement by acquiring a Stake in Nofir, Market Leader in the European Fishing Net Recovery
UPSTREAM INTEGRATION TO CONSOLIDATE THE CIRCULARITY OF THE ECONYL® BRANDED PRODUCTS’ BUSINESS MODEL
Arco (TN), October 11th, 2021 – Coverage of procurement and efficiency gains in the nylon waste recovery industry: these are the motivations behind the acquisition of a significant shareholding (around 32%) in the Norwegian Nofir by Aquafil S.p.A. [ECNL IM].
Nofir, based in Bodø, Norway, is a leading European player in the collection and processing of fishing and aquaculture nets at the end of their life cycles. Since 2011, Nofir has collected over 48,000 tons of nets in 20 countries on five continents using an advanced system for collecting and tracing discarded nets from the fishing and aquaculture industry.
The company collaborates actively with Healthy Seas®, a foundation created by Aquafil and other partners whose main mission is raising awareness among consumers of the problem of fishing nets lost or abandoned in our oceans.
Giulio Bonazzi, Aquafil Group’s Chairman and Chief Executive Officer, stated: “After the acquisition of Planet Recycling (Aquafil Carpet Collection) in December 2020 — now proving to be an important asset in increasing the circularity of our processes — the investment in Nofir further strengthens our approach for control over the procurement chain”.
“Aquafil has been a great partner of Nofir for more than 10 years. To get them on board as owners is a vitamin injection to continue the efforts to be one of the leading players in the recycling of gear from the fishing and aquaculture industry in Norway and in the world” Nofir CEO Øistein Aleksandersen added.
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Aquafil is a pioneer in the circular economy also thanks to the ECONYL® regeneration system, an innovative and sustainable process able to create new products from waste and give life to an endless cycle. The nylon waste is collected in locations all over the world and includes industrial waste but also products – such as fishing nets and rugs – that have reached the end of their useful life. Such waste is processed to obtain a raw material – caprolactam – with the same chemical and performance characteristics as those from fossil sources. The polymers produced from ECONYL® caprolactam are distributed to the Group’s production plants, where they are transformed into yarn for rugs carpet flooring and for clothing.
Founded in 1965, Aquafil is one of the main producers of nylon in Italy and worldwide. The Group is present in eight countries and in three different continents, with over 2,600 employees at 19 production sites located in Italy, Scotland, Slovenia, Croatia, Unites States, Thailand and China.
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