LyondellBasell to acquire flexible packaging recycling specialist
LyondellBasell announced it entered into an agreement to acquire full ownership of APK AG in Merseburg, Germany, to grow and upgrade its Circular and Low Carbon Solutions business.
LyondellBasell will acquire full ownership of APK AG.
APK’s solvent-based recycling technology will complement LyondellBasell’s already existing mechanical and advanced recycling technologies.
The recycling technology is a unique solvent-based kind for low density polyethylene (LDPE). It separates the different polymers of hard to recycle, flexible plastic waste materials and produces recycled materials with a high degree of purity suitable for new flexible packaging of, for example, personal care products.
The materials produced will be sold under the LyondellBasell Circulen portfolio.
Yvonne van der Laan, LyondellBasell Executive Vice President, Circular and Low Carbon Solutions, commented that the acquisition is an important further step toward reaching the company’s goal to produce and market at least 2 million metric tons of recycled and renewable based polymers annually by 2030.
Closing of the transaction is subject to customary closing conditions.
