POLAND – Dutch chemical firm LyondellBasell has signed a definitive agreement to acquire Mepol Group, a producer of recycled, high-performing technical compounds, for an undisclosed sum.
The acquisition consists of Mepol S.r.l. and its subsidiaries Polar S.r.l. and Industrial Technology Investments Poland Sp.z.o.o.
Torkel Rhenman, executive vice president of Advanced Polymer Solutions said: “This acquisition demonstrates LyondellBasell’s commitment to move the circular economy forward.
“With Mepol Group’s expertise in sustainable compounds and LyondellBasell’s scale, we will enhance our CirculenRecover and other sustainable solutions for our customers.”
The company noted that facilities in Poland and Italy will produce recycled and polymer compounds for diverse markets.
The transaction closing is subject to regulatory approval and other customary closing conditions. During this period, Mepol Group will continue to operate on a standalone basis.
LyondellBasell develops circular and low-carbon solutions for its customers. At its location in Wesseling, Germany, the company started construction of a new advanced recycling plant in November of last year.
The Dutch chemical firm announced its plan to build new plastic waste sorting and recycling facilities in Houston, Germany, China, and India during the fourth quarter of 2022.
Additionally, LyondellBasell has mechanical recycling facilities in the Netherlands and Belgium.
Mepol CEO Mirco Melato said: “We are delighted to join forces with LyondellBasell, an industry leader we have admired for many years.
“LyondellBasell shares our commitment towards sustainability and with its scale and resources, the combined business will be better positioned to address customer needs.”
The firm has developed eco-sustainable products for various applications in the furniture, automotive, electrical, and electronic sectors.
Last month, LyondellBasell signed a long-term supply deal with Nexus Circular to receive around 24,000 tons of recycled feedstock per year.
The material will be produced at Nexus Circular’s new advanced recycling facility, which will begin construction in 2023.
LyondellBasell says it plans to use Nexus Circular’s recycled feedstock at its Channelview, Texas, facility to produce new plastics, which will be marketed under its CirculenRevive brand.
The firm also signed an agreement with KIRKBI, an investment company of the LEGO® brand, to make an investment in solvent-based recycling technology provider APK.
Under the agreement, LyondellBasell and KIRKBI will become minority shareholders in APK, and together with other co-investors will invest approximately €130 million (US$139.54m) in the firm.
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