Investment will allow packaging waste processor to increase capacity and develop new recycled polypropylene products for the textile sector
Ingka Investments, the investment arm of IKEA’s parent company, Ingka Group, has invested in Shanghai Re-mall Environmental Protection New Material (Re-mall), the China-based recycler of post-consumer packaging waste.
The deal, which marks the first Chinese investment for Ingka Investments in its ‘Circular Investment’ portfolio, is part of the Swedish firm’s commitment to invest in companies that are developing technology or growing capacity to prevent waste or supply recycled materials.
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