Borealis
Borealis has fully acquired Austrian plastics recycler, Ecoplast, as part of overall strategy to support growth and sustainability in the polyolefins market.
The company announced its intentions to buy the firm in July as part of its foray into mechanical recycling and as a complementary acquisition to mtm, the German-based producer of post-consumer polyolefin recyclates it purchased in 2016.
Based in Wildon, Austria, Ecoplast processes around 35,000 tonnes of post-consumer plastic waste from households and industrial consumers every year, turning them into high-quality LDPE and HDPE recyclates, primarily but not exclusively for the plastic film market.
Borealis says it expects that the recycled PO market will grow substantially by 2021, which is the strategic rationale behind the acquisition. The company says it has made PO recycling a key element of its overall PO strategy “because of its potential to support both growth and sustainability.”
“Borealis recognises the increasing need for plastic recycling and sees the Circular Economy as a business opportunity,” said Borealis Chief Executive, Alfred Stern.
“Borealis already has a long-term collaboration with Ecoplast and this acquisition is the next logical step in building our mechanical recycling capabilities. As an important complement to mtm in Germany, Ecoplast will help us address critical sustainability challenges and become a polyolefin recycling leader. Eventually, we want to use our experience to develop an effective blueprint for the end-of-use phases for plastics that can be applied in other parts of the world.”