LyondellBasell Completes Acquisition of Plastics Recycling Company APK

LyondellBasell (LYB) announced that it has become the full owner of APK in Merseburg, Germany, which will be fully integrated as part of LyondellBasell.

LyondellBasell aims to further develop the company's unique solvent-based low-density polyethylene (LDPE) technology and build a commercial plant in the future. Once achieved, the company will be able to produce new high-purity materials for applications such as flexible packaging for personal care products to meet the needs of customers and brand owners.

"The acquisition of solvent-based plastic recycling technology company APK adds another solution for our customers to achieve their circular ambitions and goals," said Yvonne van der Laan, Executive Vice President of Circular and Low Carbon Solutions at LyondellBasell. "This technology complements our mechanical recycling technology as well as proprietary advanced recycling technologies. It is an important addition to our portfolio on the path to a circular economy and helping to end plastic waste."

Following the groundbreaking ceremony for its first industrial-scale MoReTec catalytic advanced recycling plant in Wesseling on September 19 with the German Chancellor, the completion of the APK acquisition once again demonstrates that LyondellBasell is creating solutions for a better tomorrow. With these investments, LyondellBasell aims to meet the growing demand of customers and society for more sustainable solutions.

“We are very happy to become part of LyondellBasell, which offers a wealth of expertise, career opportunities and financial strength to help the company reach the next level,” said Maik Pusch, former Director of Corporate Development and Head of Integration at APK. “I am convinced that this combination will help our technology reach its full potential and offer a bright future for our more than 100 employees.”

The recycling technology being developed is a unique solvent-based recycling technology for low-density polyethylene (LDPE). LyondellBasell 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 sector. The produced material will be sold through LyondellBasell’s Circulen portfolio.

In March 2023, LyondellBasell unveiled its key new corporate strategy, which aims to establish the Group as an industry leader in sustainability. It has ambitious plans to create best-in-class innovation and differentiated technologies as a key element of its new strategy and has established a dedicated Circular and Low Carbon Solutions (CLCS) business unit, which has already begun investing significantly upstream in plastic waste sorting and recycling operations in Europe, the United States and Asia.