Danish environmental company Genan Holding A/S has purchased an operator of Portugal’s biggest tire recycling facility, BioSafe, which is a minor of NORS S.A. – a corporation providing transporting and equipment solutions. The deal for the takeover has been already signed by the two companies, and the transaction was fully completed late April.

This comes after Genan’s CEO Poul Steen Rasmussen announced the business’s takeover early last month noting that this move is expected to boost overall manufacturing capacity and will help his company become more competitive in Portugal and export markets due to transportation costs more appealing to customers.

He also vowed that the company will keep on seeking innovation, and the acquisition of the BioSafe will provide the corporation’s Research and Development department with skillful and knowledgeable resources – this will help the business “to combine ideas, efforts and experience.” 

Genan Holding A/S is the corporation that owns a tire recycling business Genan, considered the biggest global tire recycler that pursues innovation and uses advanced processing technologies.

BioSafe is a Portuguese tire recycling firm that uses sustainable business approaches and has an overall annual production capacity of around 25,000 tons.

Press release by Genan