LYB completes acquisition of solvent-based recycling company APK
October 17 2024 - 8:14AM
UK Regulatory
LYB completes acquisition of solvent-based recycling company APK
Company welcomes additional recycling technology to its
portfolio
- Ambition to further develop solvent-based recycling technology
and bring to commercial scale
- Company secures future of employees and fosters expertise with
full integration
- Plant to be transformed into post-consumer plastic waste
recycling
ROTTERDAM, The Netherlands, Oct. 17, 2024 (GLOBE NEWSWIRE) --
LyondellBasell (LYB) today announced it became full owner of APK AG
in Merseburg, Germany. APK will be fully integrated and continue as
part of LYB, a sustainability leader in the chemical industry. It
is LYB’s ambition to further develop the company’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.”
The closing of the APK acquisition is another proof
point of how LYB creates solutions for a better tomorrow, following
the foundation stone laying of its first industrial-scale
MoReTec plant for catalytic advanced recycling in
Wesseling on September 19 with German Chancellor Scholz. LYB aims
to address rising demand for more sustainable solutions from
customers and society.
“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.”
The 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.
In March 2023 LYB revealed its pivotal new company strategy
aimed at establishing LYB as an industry leader in sustainability.
LYB has formulated ambitious plans to create access to
best-in-class innovative and differentiated technologies as a key
element of its new strategy and formed a dedicated circular
and low carbon solutions (CLCS) business. CLCS has started to make
substantial investments upstream in plastic-waste sorting and
recycling operations in Europe, the United States and Asia.
About LyondellBasell
We are LyondellBasell (NYSE: LYB) ― a leader in the global chemical
industry creating solutions for everyday sustainable living.
Through advanced technology and focused investments, we are
enabling a circular and low carbon economy. Across all we do, we
aim to unlock value for our customers, investors, and society. As
one of the world's largest producers of polymers and a leader in
polyolefin technologies, we develop, manufacture and market
high-quality and innovative products for applications ranging from
sustainable transportation and food safety to clean water and
quality healthcare. For more information, please visit
www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.
Media Inquiries Global
LyondellBasell Media Relations
Phone: +1 713 309 4791
Email: mediarelations@lyondellbasell.com
Or:
Media Inquiries Europe
Robert Kleissen, External Affairs Europe
Phone: +31 6 273 573 98
Email: robert.kleissen@lyondellbasell.com
Forward-Looking Statements
The statements in this release relating to matters that are not
historical facts are forward-looking statements. Actual results
could differ materially based on factors including, but not limited
to, our ability to meet our sustainability goals, including our
ability to successfully integrate the operations and operate the
facilities; our ability to build a profitable Circular & Low
Carbon Solutions business; and the ability to increase production
of recycled and renewable-based polymers to meet our targets and
forecasts and our ability to procure feedstock to meet these goals.
Additional factors that could cause results to differ materially
from those described in the forward-looking statements can be found
in the "Risk Factors" section of our Form 10-K for the year ended
December 31, 2023, which can be found at www.LyondellBasell.com on
the Investor Relations page and on the Securities and Exchange
Commission’s website at www.sec.gov. There is no assurance that any
of the actions, events or results of the forward-looking statements
will occur, or if any of them do, what impact they will have on our
results of operations or financial condition. Forward-looking
statements speak only as of the date they were made and are based
on the estimates and opinions of management of LyondellBasell at
the time the statements are made. LyondellBasell does not assume
any obligation to update forward-looking statements should
circumstances or management's estimates or opinions change, except
as required by law.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/b3caaa7f-7064-4a9a-a139-e676d322d9f8
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