Austria-based advanced polyolefin solutions provider Borealis has announced it has signed an agreement to acquire Italian recycled polypropylene (PP) compounds producer Rialti.
The companies have not disclosed the financial details of this transaction.
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The completion of this deal is now subject to certain customary conditions and regulatory approvals.
According to Borealis, the acquisition of Rialti will help it address the growing demands of its customers for sustainable solutions through the addition of Rialti’s 50,000 tonnes of recycled compounding capacity.
It will further help the company in strengthening its existing circular economy portfolio.
The transaction is also in line with the Austrian-based company’s ‘EverMinds’ platform, which aims to expand and accelerate plastic circularity efforts.
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By GlobalDataBorealis Polyolefins, Innovation & Technology and Circular Economy Solutions executive vice-president Lucrèce Foufopoulos said: “During the past decade we have made steady progress in our circularity journey.
“The addition of Rialti to our portfolio will expand our circular offering and strengthen our ability to serve our customers in meeting their sustainability ambitions.
“As such we continue reinventing essentials for sustainable living.”
Located in Italy’s Varese area, Rialti is a three-decade-old company that specialises in manufacturing sustainable PP compounds.
It mainly focuses on using mechanically recycled PP feedstock, which is obtained from post-industrial and post-consumer waste.
It has an annual production capacity of up to 50,000 tonnes force of recycled PP, which helps in making injection moulding and extrusion PP compounds for use in various industrial applications, including in the automotive, appliances and construction sectors.
Meanwhile, with headquarters in Vienna, Austria, Borealis provides advanced and sustainable polyolefin solutions and circular material solutions for different industries, including the consumer products, healthcare, energy, infrastructure and mobility sectors.
Borealis said it is currently expediting its efforts to transform towards a polyolefins’ circular economy and expand its geographical presence to address the needs of its customers on a global scale.
In 2018, Borealis announced the acquisition of Austria-based plastics recycling company Ecoplast Kunststoffrecycling to expand its mechanical recycling capabilities.
