LyondellBasell to acquire APK AG Recycling Technologies

Author: OrderPlastics

2024-08-28

• Acquisition adds LYB’s Circular and Low Carbon Solutions business, driving further diversification of innovative recycling technologies

• Transaction includes existing assets and planned development projects
  

August 23, 2024 - LyondellBasell (LYB) announced that it has reached an agreement to acquire full ownership of APK AG in Merseburg, Germany. The acquisition enables LYB to grow and scale its Circular and Low Carbon Solutions business, supported by APK AG’s technology.

Completion of the transaction is subject to customary closing conditions. LYB believes that APK’s solvent-based recycling technology is a perfect fit with its existing mechanical and advanced recycling technologies. As a result, LYB has previously invested in the company and worked together to scale up the technology. By acquiring APK, LYB has secured its future after it declares bankruptcy at the end of May 2024.

“We see APK’s solvent-based recycling technology as an important complement to our existing and future mechanical and advanced recycling businesses. It is an important step towards our goal to produce and sell at least 2 million metric tons of recycled and renewable polymers per year by 2030,” said Yvonne van der Laan, Executive Vice President of LyondellBasell’s Circular and Low Carbon Solutions division. “APK’s enterprising culture is a great fit with LYB. We look forward to building on APK’s excellent progress and leveraging the expertise of its R&D, project engineering and operations teams to strengthen our position as an industry leader in sustainability.”

“We are pleased to have reached an agreement with LYB to secure our company’s future,” said Steve Döring, CEO of APK AG. “LYB’s ambition to become a global leader in circular solutions and technologies constitutes a perfect strategic fit, allowing us to invest in growth opportunities and ensure the full potential of our unique solvent recycling technology.”

This is a unique solvent-based low-density polyethylene (LDPE) recycling technology. LYB aims to increase the recycling rate of hard-to-recycle flexible plastic waste, which currently accounts for the majority of mixed plastic waste in the consumer industry. The technology can separate different polymers in hard-to-recycle flexible plastic waste to produce high-purity recycled materials suitable for new flexible packaging such as personal care products. The materials produced will be sold under the name of the LYB Circulen product portfolio.

In March 2023, LYB announced its crucial new corporate strategy, aiming to make LYB an industry leader in sustainable development. LYB has set ambitious goals and is committed to acquiring top innovative and differentiated technologies. As a key part of its new strategy, LYB has established a dedicated Circular and Low Carbon Solutions (CLCS) business. CLCS has begun to make significant investments upstream in plastic waste sorting and recycling operations in Europe, the United States and Asia.

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