LyondellBasell buying recycling technology developer APK AG
Canadian Plastics
RecyclingLYB will integrate APK’s solvent-based recycling technology with its existing mechanical and advanced recycling operations.
In a move that will allow it to expand and upgrade its Circular and Low Carbon Solutions (CLCS) business, global chemical industry company LyondellBasell (LYB) has announced an agreement to acquire full ownership of APK AG in Merseburg, Germany.
The financial terms of the deal have not been disclosed.
With the acquisition, LYB expects to integrate APK’s solvent-based recycling technology with its existing mechanical and advanced recycling operations. The technology separates the different polymers of hard to recycle, flexible plastic waste materials and produces recycled materials with a high degree of purity suitable for new flexible packaging of, for example, personal care products. The materials produced will be sold under the LYB Circulen portfolio.
The company had already invested in APK and collaborated to scale the technology.
In a statement, LYB officials said the transaction “will secure the future” of APK following its entry into insolvency at the end of May 2024.