The acquisition aligns with LyondellBasell's commitment to the circular economy and provides significant growth opportunities in the Advanced Polymer Solutions (APS) business unit. Mepol and all its subsidiaries will now be subsidiaries of LyondellBasell's APS segment, leveraging Mepol's expertise in recycled compounds and LyondellBasell's strategy and scale. 

Torkel Rhenman, executive vice president of Advanced Polymer Solutions of LyondellBasell said, "With Mepol's deep expertise in recycled compounds and LyondellBasell's strategy and scale, we see significant opportunities to accelerate the growth of our APS business by leveraging macro trends in circularity and creating solutions for everyday sustainable living."

The company aims to create sustainable solutions for everyday living while meeting the increasing demand for circular and renewable products. By 2030, LyondellBasell plans to produce and market at least 2 million metric tons of polymers from recycled or renewable-based sources annually.