Borealis, headquartered in Vienna, Austria, a leading provider of innovative solutions in the fields of polyolefins, base chemicals, and fertilizers has taken over an Austrian plastics recycler Ecoplast Kunststoffrecycling GmbH (“Ecoplast”) by acquiring its 100% shares. The transaction deed is still to be approved by the regulatory authorities.
Ecoplast, a company based in Wildon, Austria, has a large processing capacity of around 35 000 tonnes of post-consumer plastic waste from households and industrial consumers every year. The plastic waste collected from the consumers and the industries is converted into high-quality LDPE and HDPE recyclates basically for the plastic film market and also for other markets.
Alfred Stern, Chief Executive, Borealis, said, “It is a logical next step for us to expand our mechanical recycling capabilities, which are key to our sustainability and circular economy efforts. Borealis wants to be a provider for circular economy plastic solutions and we see Ecoplast as an important complement to mtm in Germany. mtm’s focus is on rigid, injection moulding solutions. Ecoplast’s core competence is recycling flexibles from highly contaminated household and commercial waste into a product that is suitable for thin film production.”
Borealis with a large network spread over in more than 120 countries offer innovative solutions in the fields of polyolefins, base chemicals, and fertilizers. The company received sales revenues of EUR 7.5 billion and a net profit of EUR 1,095 million in 2017. 64% of the company’s shares are owned by Mubadala, through its holding company whereas the remaining 36% belong to Austria-based OMV, an integrated, international oil, and gas company. Borealis offers services and products to customers all over the world in collaboration with Borouge, a joint venture with the Abu Dhabi National Oil Company (ADNOC).