Borealis has closed the full acquisition of Integra Plastics AD, a Bulgarian plastics mechanical recycler specialised in polyolefins. The deal was first announced on Nov. 29, 2023.
Located in Elin Pelin, a town in central western Bulgaria, Integra Plastics produces post-consumer recycled Low-Density Polyethylene (LDPE), High Density Polyethylene (HDPE), and Polypropylene granules (PP) of various colours, with a yearly capacity of 30,000 tonnes.
Borealis said the acquisition will allow it to add more than 20,000 tonnes of recycling capacity per year for ‘demanding’ applications.
“This move strengthens our ability to deliver on our… mechanical recycling ambition and simultaneously, enables our customers to meet their sustainability targets,” said Craig Arnold, Borealis executive vice president polyolefins, circular economy solutions and innovation & technology.
The closure comes after Borealis also acquired Rialiti S.p.A, a PP compounder of recyclates based in the Varese area of Italy, in November 2023.
In 2023, Borealis Group a negative operating profit of €-9M due to adverse market conditions, high inventory effects, and a generally weaker environment in all business areas, driven by higher inflation and cost- of-living crises. Borealis Polyolefins’ operating profit fell to €-79 million in 2023 from €526 million in 2022.