Multinational oil and gas company MOL Group will acquire a German recycled plastics compounder.
The Hungarian energy giant has agreed to acquire Aurora, which produces engineering plastics and recycled PP-based compounds. Aurora supplies automakers and other manufacturers.
The investment allows MOL to offer polyamide, PP and other recycled-content compounds alongside its virgin PP and PE, according to a press release.
The acquisition is the latest case of a petrochemicals company buying a plastics reclaimer. In Europe, Indorama Ventures acquired French PET and HDPE reclaimer Sorepla Industrie, Total acquired French PP reclaimer Synova and LyondellBasell became a partner in Netherlands HDPE and PP reclaimer Quality Circular Polymers (QCP).
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