LyondellBasell acquires German plastics recycling company APK

To develop and scale up its circular and low-carbon solutions business, chemicals producer LyondellBasell will acquire full ownership of plastics recycler APK in Merseburg, Germany. Completion of the transaction is subject to customary closing conditions. Financial details of the transaction have not been disclosed.

LyondellBasell believes that APK's solvent-based recycling technology fits perfectly with its existing mechanical and advanced recycling technologies. Therefore, LyondellBasell has already invested in the company in the past and worked together to bring the technology to scale. The company said that the acquisition secures APK's future after its bankruptcy at the end of May 2024.

"We see APK's solvent-based recycling technology as an important addition and complement to our existing and future mechanical and advanced recycling business. This is an important step towards our goal of producing and selling at least 2 million metric tons of recycled and renewable polymers per year by 2030," said Yvonne van der Laan, executive vice president of circular and low-carbon solutions at LyondellBasell.

APK CEO Steve Döring commented: "We are delighted to have reached an agreement with LYB that secures the future of the company. LYB, with its ambition to become a global leader in circular solutions and technologies, is the perfect strategic partner to invest in growth opportunities and ensure that our unique solvent recycling technology can reach its full potential."

APK's recycling technology is a unique solvent-based low-density polyethylene (LDPE) recycling technology. It separates the different polymers in hard-to-recycle flexible plastic waste and produces a higher purity recycled material suitable for new flexible packaging such as personal care products. The company said the produced material will be sold through LyondellBasell's Circulen product portfolio.