Chemical company LyondellBasell (LYB) has completed the acquisition of full ownership of APK, a solvent-based recycling company based in Merseburg, Germany.
The companies initially entered into the agreement in August this year.
Following the closure, APK will be fully integrated into LYB's operations.
This strategic acquisition enables LYB to produce high-purity materials suitable for flexible packaging applications in personal care products.
LYB circular and low-carbon solutions executive vice-president Yvonne van der Laan said: "We are excited to complete the acquisition of solvent-based recycling technology company APK, securing the future of more than a hundred employees and adding another solution for our customers to meet their circularity ambitions and goals.
“This technology complements our excellent mechanical recycling technology, as well as our proprietary advanced recycling technology. We see this as a crucial addition to our portfolio on our journey to a circular economy, helping end plastic waste.”
The acquisition of APK follows LYB's recent investment in its first industrial-scale MoReTec plant for catalytic advanced recycling in Wesseling, Germany.
The foundation stone for the plant was laid on 19 September with German chancellor Olaf Scholz.
These investments underscore LYB's dedication to meeting the growing demand for sustainable solutions from both customers and society at large.
APK corporate development former director and integration lead Maik Pusch said: “We are incredibly pleased to be part of LYB. LYB offers great expertise, career opportunities and financial strength to lift the company to the next level.
“I am convinced this combination will help our technology reach its full potential, as well as securing a promising future for our employees.”
The acquisition brings with it a solvent-based recycling technology for low-density polyethylene, which is expected to enhance LYB's ability to recycle flexible plastic waste materials that currently constitute a significant portion of mixed consumer plastic waste.
The resulting materials will be marketed under LYB’s Circulen brand.
