A definitive agreement has been signed for chemical company LyondellBasell to acquire Italian plastics recycling firm Mepol Group.
Mepol Group is a manufacturer of recycled, high-performing technical compounds and has operations in Italy and Poland.
The transaction is subject to regulatory approval.
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 has been rapidly moving into plastic recycling and is building a chemical recycling plant at Wesseling in Germany. It already has mechanical recycling facilities in the Netherlands and Belgium. The company is also developing new plastic waste sorting and recycling plants in US, Germany, China and India.