(Alliance News) - Innovatec Spa on Monday disclosed that Haiki+ Srl, a subholding company of the Environment and Circular Economy business unit, has subscribed through its subsidiary Haiki Recycling Srl for a capital increase reserved for it in IGERS Srl, a company active in the recycling of scraps and waste from the textile circuit.

The transaction, whose countervalue at this stage is about EUR700,000 - fully subscribed and paid in today - is aimed at providing the financial, technical and operational resources so that the first integrated plant in Italy for the recycling of textile scraps and waste aimed at the recovery of natural and synthetic fibers to be put back into the production circuit will see the light of day, the company explained in a note.

Innovatec trades in the red by 0.8 percent at EUR1.03 per share.

By Claudia Cavaliere, Alliance News reporter

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