Austria-based chemicals group Borealis has announced that it has signed an agreement to acquire German plastics recycler MTM Plastics and MTM Compact.
Borealis spokesperson, Virginia Mesicek, told PNE that details of the transaction could not be revealed at this time due to it being subject to regulatory approval.
Alfred Stern, Borealis Executive Vice President Polyolefins and Innovation & Technology said: “Plastics are simply too valuable to be disposed of in landfills. Plastic recycling provides a circular business opportunity in a growing market within a broader sustainability agenda. There are many areas in which mechanical recycling of post-consumer waste make business and ecological sense. The acquisition of MTM Plastics and MTM Compact reflects our pro-active and dedicated ‘keep discovering' approach to provide specific and innovative solutions in tackling core global challenges.”
Borealis currently has around 6,500 employees and operates in over 120 countries. It saw sales of €7.7bn in 2015.
MTM Plastics has its headquarters in Niedergebra, a town to the south of Hanover in Germany. The company states it can turn out up to 30,000 tonnes of regranulate a year and its branded products, Dipolen and Purpolen, are currently sold to customers in Italy, Benelux, France, Poland, USA, China, Turkey and Germany.