Austria-based chemical supplier Borealis has acquired the German plastics recyclers mtm plastics GmbH and mtm compact GmbH.
The financial terms of the deal have not been disclosed.
Based in Niedergebra, Germany, mtm plastics GmbH is regarded as a technology leader in the recycling of mixed post-consumer plastic waste and as one of Europe’s largest producers of post-consumer polyolefin recyclates.
The sister companies mtm plastics GmbH and mtm compact GmbH will become members of the Borealis Group. The two managing directors will remain in their roles to ensure business continuity.
“Over the past decade, innovations are increasingly addressing sustainability issues and caused stakeholders to rethink and reshape their approach to value creation. As a leader in our industry, it is a part of our responsibility to be in the driving seat to couple growth ambitions with providing solutions to solve society’s global challenges,” said Alfred Stern, Borealis executive vice president, polyolefins and innovation & technology. “This is why we are fully committed to the principles of the circular economy and with this acquisition we now take our engagement to plastics recycling to the next level.”
