(IN BRIEF) Borealis announces the successful acquisition of Integra Plastics AD, a Bulgarian advanced mechanical recycling player, solidifying its position in the circular economy landscape. Integra Plastics’ state-of-the-art recycling plant, with an annual capacity exceeding 20,000 tons, significantly bolsters Borealis’ portfolio of advanced mechanical recyclates. By combining expertise and innovation, the acquisition aligns with Borealis’ EverMinds™ commitment to accelerating the transition to a truly circular economy. Craig Arnold, Borealis Executive Vice President, emphasizes the move’s significance in delivering sustainable solutions and reinventing essentials for sustainable living, while Julian Stefanov, CEO of Integra Plastics AD, expresses confidence in the growth and innovation potential of the collaboration.
(PRESS RELEASE) VIENNA, 2-Apr-2024 — /EuropaWire/ — 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. Combining Integra Plastics’ expertise and capacity in advanced mechanical recycling with Borealis’ know-how and innovation leadership, contributes considerably to advancing circularity in the plastics 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 polyolefin 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.
About Borealis
Borealis is one of the world’s leading providers of advanced and sustainable polyolefin solutions. In Europe, Borealis is also an innovative leader in polyolefins recycling and a major producer of base chemicals. We leverage our polymer expertise and decades of experience to offer value-adding, innovative and circular material solutions for key industries such as consumer products, energy, healthcare, infrastructure and mobility.
With customers in over 120 countries and head office in Vienna, Austria, Borealis employs around 6,000 people. In 2023, we generated a net profit of EUR 216 million. OMV, the integrated energy, fuels & feedstock and chemicals & materials company headquartered in Vienna, Austria, owns 75% of our shares. The Abu Dhabi National Oil Company (ADNOC), based in the United Arab Emirates (UAE), owns the remaining 25%.
In re-inventing essentials for sustainable living, we build on our commitment to safety, our people, innovation and technology, and performance excellence. We are accelerating the transformation to a circular economy of polyolefins and expanding our geographical footprint to better serve our customers around the globe. Our operations are augmented by two important joint ventures: Borouge (with ADNOC, headquartered in the UAE); and Baystar™ (with TotalEnergies, based in the US).
www.borealisgroup.com | www.borealiseverminds.com
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First published in this link of EuropaWIRE.
