The acquisition deal includes Mepol and its subsidiaries Polar and Industrial Technology Investments 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 deal includes Mepol and its subsidiaries Polar and Industrial Technology Investments Poland.
LyondellBasell said that the plants in Poland and Italy will manufacture recycled and polymer compounds for different sectors.
The completion of the deal is subject to regulatory approval and other customary closing conditions.
Mepol Group will continue to run independently during this period.
LyondellBasell Advanced Polymer Solutions executive vice president Torkel Rhenman 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.”
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 recycled feedstock will be produced in the new advanced recycling facility being built by Atlanta-based Nexus Circular.