OSLO, NORWAY: Tomra Systems has entered into an agreement for the sale of its 49 % stake in UltrePET LLC to Evergreen Recycling LLC.
The sales price of $11 million is expected to generate a gain of $5 million and will be reported as “profit from associates” in 4th quarter of 2021.
UltrePET is a North American recycler of PET located in Albany, NY. The company recycles polyethylene terephthalate and other plastic resins and supplies products in pellet and flake form for high quality applications.
Tomra Systems was founded on an innovation in 1972 that began with design, manufacturing and sale of reverse vending machines (RVMs) for automated collection of used beverage containers.
Today Tomra Systems provides technology-led solutions that enable the circular economy with advanced collection and sorting systems that optimize resource recovery and minimize waste in the food, recycling and mining industries.
TOMRA has approximately 100,000 installations in over 80 markets worldwide and had total revenues of ~9.9 billion NOK in 2020. The Group employs ~4,300 globally and is publicly listed on the Oslo Stock Exchange. (OSE: TOM). www.tomra.com
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