
Borealis, a Vienna-based base chemicals and polyolefins company, has agreed to acquire the German plastics recycling firms MTM Plastics GmbH and MTM Compact GmhH. The transaction is subject to regulatory approval.
MTM Plastics is heavily involved in the recycling of mixed postconsumer plastic scrap and is one of Europe’s largest producers of postconsumer polyolefin recyclables.
In announcing the proposed acquisition, Alfred Stern, Borealis executive vice president of polyolefins and innovation & technology, says, "Plastics are simply too valuable to be disposed of in landfills. Plastic recycling provides a circular business opportunity in a growing market within a broader sustainability agenda.”
Stern continues, “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."
Michael Scriba, CEO of MTM, says, following the acquisition, “Together with our major partner Borealis on our side, we will continue the successful growth of the last years also in the future.”
MTM says it has established itself in the European plastic market with Dipolen and Purpolen, two products primarily used in injection molding applications.
MTM Plastics GmbH, headquartered in Niedergebra, Germany, produces roughly 30,000 tonnes of recycled polyolefin per year. The source material is plastic packaging scrap from European waste collections, as well as plastics from bulk waste collections, which are regranulated for different requirements.
The company also estimates that at its Niedergebra location it is capable of processing 75,000 tonnes of material per year.
Get curated news on YOUR industry.
Enter your email to receive our newsletters.
Latest from Recycling Today
- Aduro joins PLASTICS, PSRA
- Rumpke awarded recycling contract in Bowling Green, Ohio
- VPPA and RISI to host pulp and paper summit in Vietnam
- Agilyx buys stake in Green Dot
- Meadow tabs aluminum as key to boosting beauty sector recycling
- Recycling industry stakeholders testify at Congressional hearing
- Missouri city expands recycling capabilities with funding from The Recycling Partnership
- Port of LA reports hectic June