Ingka Group invests in Next Generation Group
19. November 2018
Next Generation Group, an Austrian-based developer and manufacturer of technology and equipment for the plastics recycling industry just announced a minority share investment by Ingka Group. The investment will enable the company to further develop new technology and expand its service offering in order to better serve the plastic recycling industry.
Next Generation Group is a company with more than 20 years’ experience and a leading developer and provider of equipment and technology to the plastics recycling industry. The companysupports the supply growth of secondary raw plastic materials by offering a full range of post-consumer, post-industrial and PET recycling equipment. Next Generation Group is, among other things, in the forefront when it comes to the development of technology for the next dimension of PET recycling, P:REACT. Ingka Group will make a minority share investment of 24%.
Josef Hochreiter, CEO of Next Generation Group, says: “Ingka Group with their investmentprinciples, enables Next Generation Group as a technology-provider, to invest in new technologies supporting the transition from a linear to a circular economy. The shared view on our long term strategy and philosophy supports us to further grow the company”.
“Next Generation Group is an interesting company with great potential and is in line with our sustainability commitments. We have a clear strategy for our minority investments to support innovative companies and create room for them to develop. We have a long term commitment in all our investments,” says Krister Mattsson, Head of Ingka Investments.
Next Generation Recycling was established in 1996 as a technology and equipment provider for the plastic recycling industry. The Group designs and manufactures recycling machinery mainly at their facility in Feldkirchen, Austria. The Group has 250 employees.
About Ingka Group
Ingka Group (Ingka Holding B.V. and its controlled entities) has three business areas: IKEA Retail, Ingka Investments and Ingka Centres. It is the world’s largest home furnishing retailer operating 367 IKEA stores in 30 markets and 158,500 co-workers. These IKEA stores had 838 million visits during FY18 and 2.35 billion visits to www.IKEA.com. Ingka Group is one of 11 different groups of companies that own and operate IKEA sales channels under franchise agreements with Inter IKEA Systems B.V. Ingka Group operates business under the IKEA vision – to create a better everyday life for the many people, by offering a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them.