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).
In the U.S., Indorama recently acquired the Custom Polymers PET recycling plant in Alabama and DAK Americas purchased Perpetual Recycling Solutions’ plant in Indiana.
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