KMT acquires NKT's recycling business in Stenlille in Denmark and the parties enter into an agreement on continued recycling of cables. The transaction was completed on 15 January 2021 as an asset sale by KMT's Danish subsidiary KMT Kabel Danmark A/S (KMT Denmark) taking over all fixed assets, employees and customers at NKT's plant in Stenlille.The plant in Stenlille was established in 1960 and has in recent years primarily recycled production scrap from NKT's power cable factories in Denmark, Sweden and Germany. As part of the deal, the two parties have entered an exclusive long-term agreement to continue recycling of NKT’s power cables. The partnership will enable the circular use of materials. NKT will extend existing sustainability collaboration programs to include KMT to ensure continuous progress on the sustainability commitments.
