World-leading chemical, polyolefin and fertiliser giant Borealis has announced it has struck a deal to acquire German plastics recycling technology champion mtm plastics GmbH and mtm compact GmbH.
Based in Niedergebra, central Germany, mtm is regarded as a technology leader in the recycling of mixed post-consumer plastic waste and as one of Europe’s largest producers of post-consumer polyolefin recyclates.
“Plastics are simply too valuable to be disposed of in landfill,” said Alfred Stern, Borealis Executive Vice-President Polyolefins and Innovation & Technology 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.”
The transaction is subject to regulatory approvals and is the latest in a string of high-profile takeovers by Borealis in recent years, including its purchasing of Specialty Polymers Antwerp in 2014 and its 77 per cent takeover of Rosier in 2013.
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Operation of the plant is a joint enterprise between Borealis, TOMRA and Zimmermann. Borealis is responsible for the plant’s commercial success and contributes its expertise and knowledge in innovation, recycling and compounding.
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