OMV AG 
- Borealis closes the acquisition of Integra Plastics AD, a Bulgarian advanced mechanical recycling player
- The acquisition enhances Borealis' portfolio of advanced mechanical recyclates by adding more than 20,000 tons of recycling capacity per year, strengthening its ability to meet growing customer demand for more sustainable solutions
- The transaction represents a proof point of Borealis' EverMinds™ commitment to accelerate the transition to a truly circular economy
On November 29, 2023 Borealis announced that it had signed an agreement to acquire a 100 % stake in Integra Plastics AD, an advanced mechanical recycling player based in Elin Pelin, Bulgaria, subject to inter alia customary regulatory approvals. Today, the companies announce the successful closing of the transaction.
Integra Plastics AD operates a modern advanced mechanical recycling plant built in 2019 with state-of-the-art equipment and an annual output capacity of more than 20,000 tons. Integra Plastics has the ability to transform post-consumer waste into high quality polyolefin recyclates suitable for demanding applications.
The acquisition strengthens Borealis' speciality and circular portfolio, enabling the company to meet growing customer demand for more sustainable solutions. By combining Integra Plastics' expertise and capacity in advanced mechanical recycling with Borealis' know-how and innovation leadership, we make a considerable contribution to advancing circularity in our industry. The move also represents a further proof point of Borealis' EverMinds™ commitment to accelerate the transition to a truly circular economy.
"We are thrilled to announce that we continue making steady progress on our circularity journey by adding Integra Plastics AD to our portfolio. This move strengthens our ability to deliver on our advanced mechanical recycling ambition and simultaneously, enables our customers to meet their sustainability targets. A true testament to the fact that we are reinventing essentials for sustainable living," says Craig Arnold, Borealis Executive Vice President Polyolefins, Circular Economy Solutions and Innovation & Technology.
"Borealis is one of the world's leading providers of advanced and sustainable polyolefin solutions, and an innovative European leader in polyolefins recycling. I am pleased to see Integra Plastics' capacity and expertise contributing to Borealis' goal of further advancing circularity. I am confident that Borealis and Integra Plastics will face a future of growth and innovation, offering a wider range of advanced mechanical recyclates to their customers," comments Julian Stefanov, CEO of Integra Plastics AD.
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OMV AG published this content on 02 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 April 2024 08:20:03 UTC.
