SAINT-JEAN-SUR-RICHELIEU, QC, May 12, 2021 /CNW/ - Soleno is a Canadian cleantech leader that develops sustainable solutions for storm water management and is always looking for new opportunities to innovate. Today, Soleno is announcing the acquisition of Plastiques VPC, a start-up specializing in the recovery of oil-contaminated plastics. The recycling industry is a key sector to tackle climate change which makes this acquisition even more important. It will also position the province of Quebec advantageously in the recycling industry and will demonstrate its leadership in the fight against climate change.
Circular economy at its best
The pandemic has highlighted Canada's heavy dependence on foreign supply, in many sectors, plastic supply being no exception. It is with this idea in mind that Soleno wants to develop innovative projects based on circular economy which has been the core of all their practices for many years. In addition to offering sustainable solutions for companies needing to dispose of their contaminated plastics and hazardous material, Soleno will give a second life to these materials by integrating them into the manufacturing process of high-density polyethylene pipes for stormwater management.
Present Across Eastern Canada
Annually, in Quebec and the Atlantic Provinces, more than 3.5 million kg of oil and antifreeze containers can be recycled. By acquiring Plastiques VPC, Soleno will be the only company in Eastern Canada able to recover materials from these territories in a fully integrated manner, while ensuring exemplary traceability from the beginning to the end of their life cycles. Thanks to this new acquisition, Soleno will now be able to serve waste management and hazardous material management companies, mechanical service retailers, hardware stores, and agricultural businesses.
"We are incredibly proud of this acquisition, which we are announcing today despite the pandemic. Soleno has always known how to innovate and evolve with clean technologies and the acquisition of Plastiques VPC makes no exception. This is a great step forward for us and the entire recycling sector, knowing that these contaminated plastics will have a second life in sustainable products made by Soleno."
-Alain Poirier, President of Soleno
"For Plastiques VPC, the union with the Soleno group represents not only a collaboration with a partner of choice for the relaunch of our activities, but also a business relationship sharing a common vision on an economic, social and especially, environmental level. We will offer a unique local solution and value chain to our customers; a sustainable circular economy model! "
-Hugues Lamer, CEO of Plastiques VPC
Soleno is a leader in the storm water management sector and one of the largest recyclers of high density polyethylene (plastic #2) in Eastern Canada. Over the years, the company has developed a cutting-edge expertise in sustainable solutions. Soleno manufactures and distributes a wide range of products for the collecting, conveying, treating and storage of stormwater for the infrastructure, residential, natural resources and agricultural sectors. The majority of Soleno's products are made of high density polyethylene, a light and resistant material that can last for over 100 years. Today, Soleno represents a group of four business units, including Soleno, Soleno Recycling, Soleno Service and Soleno Textile, which employs 500 workers in 9 industrial sites in Quebec, Ontario and New Brunswick. To learn more about Soleno, visit soleno.com.
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