Innovatec: subsidiary acquires 70% of AET, active in plastics treatment

Innovatec subsidiary acquires 70 of AET active in plastics treatment

(Finance) – Innovateca company listed on Euronext Growth Milan and active in the sectors of energy efficiency and environmental sustainability, has announced that the subsidiary Haiki + acquired 70% of AETa company that owns a plant located in San Pietro di Morubio (VR) and is active in the selection, enhancement and recycling of the plastic fraction obtained from the treatment of waste from WEEE electrical and electronic equipment.

The acquisition took place today at a consideration of 2.7 million euros of which 0.85 million paid to the selling shareholder Paolino Guido Pavan, who remains a 30% shareholder of AET. The residual consideration will be paid to the seller in two installments: the first of 0.55 million by 31 December 2022 and the second of a maximum of 1.32 million by 30 June 2027.

“With this operation Haiki + affirms its will to aim at verticalization downstream in the supply chain of plastics from the treatment of electronic waste – commented the president of Haiki +, Nicola Colucci – This acquisition allows us to become an active player at 360 ° in the world of WEEE and to bring within the group specific skills in the world of plastics enhancement thanks to the commitment by of AET’s founding partner, Paolino Pavan, to continue developing this industrial project with us “.