REDE SIM buys IPS
REDE SIM buys IPS – REDE SIM announced on March 22 the acquisition of Indústria Petroquímica do Sul (IPS), a pioneering company in the collection and rerefining of contaminated lubricants (OLUC). IPS operates as a collector and rerefiner, and, among them, it is the only one that also operates in the field of production of finished lubricating oils in the South region. The business complements SIM’s portfolio of companies, formed by fuel distributors and gas stations. The value of the contract was not disclosed.
Neco Argenta, president of REDE SIM Group, argues that the move to purchase IPS is in line with the attitude of placing ESG at the center of the group’s corporate strategy. “We believe in the very important role of the agenda of conscious consumption and recycling and reprocessing of lubricants to contribute positively to environmental sustainability, avoiding the inappropriate disposal of products in the environment, reprocessing and avoiding greater extraction of oil derivatives and contributing positively to the climate agenda “, he says in a note.
Founded in 1961, IPS has the capacity to process up to 36 million liters/year of OLUC and produce more than 20 million liters/year of base oil, a fundamental input for the production of lubricants and greases. Headquartered in Alvorada (RS) and collection operations in Paraná, Santa Catarina, Rio Grande do Sul and São Paulo, it has more than a thousand suppliers and approximately 800 active B2B customers.
