LyondellBasell Completes Acquisition of Solvent-Based Recycling Company APK
LyondellBasell (LYB) has completed its acquisition of APK in Merseburg, Germany. The company will be fully integrated and continue as part of LYB. The deal was first announced in August of this year.
According to LYB, it plans to further develop APK’s unique solvent-based technology for low density polyethylene (LDPE) and build commercial plants in the future. This will enable LYB to produce new high-purity materials that can be used in applications like flexible packaging for personal care products, meeting the demands of customers and brand owners.
"We are excited to complete the acquisition of solvent-based recycling technology company APK, securing the future of more than a hundred employees and adding another solution for our customers to meet their circularity ambitions and goals,” says Yvonne van der Laan, LYB executive vice president of circular and low carbon solutions. “This technology complements our excellent mechanical recycling technology, as well as our proprietary advanced recycling technology. We see this as a crucial addition to our portfolio on our journey to a circular economy, helping end plastic waste,” van der Laan added.
The completion of the APK acquisition comes on the heels of the groundbreaking ceremony for the first large-scale MoReTec plant for catalytic advanced recycling on Sep. 19 in Wesseling, Germany.
“We are incredibly pleased to be part of LYB. LYB offers great expertise, career opportunities and financial strength to lift the company to the next level,” says Maik Pusch, former director of corporate development at APK AG and integration lead. “I am convinced this combination will help our technology reach its full potential, as well as securing a promising future for our employees.”
APK’s recycling technology is a unique solvent-based kind for low density polyethylene (LDPE). LYB aims to increase the recycling of hard-to-recycle flexible plastic waste materials – which today make up most of the mixed plastic waste from the consumer sector. The materials produced will be sold under LYB’s Circulen portfolio.
