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).
Photo credit: XXLPhoto/Shutterstock
More stories about EPR/stewardship
- Packaging EPR on the way in another Canadian province
- Ocean plastics expert talks policy initiatives
- Report finds some PE bales went to trash, not recycling