TotalEnergies Acquires Iber Resinas
TotalEnergies has acquired Spanish mechanical recycling company Iber Resinas for an undisclosed sum. The French energy, chemicals and plastics company said the acquisition will increase its production of circular polymers in Europe, extend its range of recycled products and enhance its access to feedstock through Iber Resinas’ network of suppliers.
“This acquisition is a further step towards achieving our ambition of increasing the share of circular polymers in our plastics production to 30% by 2030,” said Nathalie Brunelle, TotalEnergies' senior vice president polymers, refining & chemicals.
Iber Resinas recycles PP, PE and PS sourced from household and industrial waste at its two plants near Valencia. The company has a large network of direct customers to whom it sells its products for manufacturing automotive parts, packaging or building materials.
Santiago Sanz and Borja Sanz, owners and managing directors of Iber Resinas, said joining TotalEnergies is an opportunity to strengthen and develop their company. "It will allow us to jointly build on our work, knowledge, and development in Spain and the EU in the polymer recycling sector, and meet the new challenges and ambitions of our customers.”
TotalEnergies is active in both mechanical and advanced recycling. Its subsidiary Synova is a leading producer of recycled PP for the automotive and construction industries with capacity in 2022 of 45,000 t/y. Last year, Synova announced it was planning to build a new 15,000 t/y production line for high-performance recycled PP used in automotive applications at its site in Carling-Saint Avold, northeastern France.
In September 2022, TotalEnergies also announced it would build one of France's first advanced recycling plants at Grandpuits in partnership with Plastic Energy. The Paris-based group signed additional offtake agreements for pyrolysis oil last year with Plastic Energy and Honeywell in order to pursue its development of advanced recycling capacity in Europe and the US.
Author: Elaine Burridge, Freelance Journalist
