MOL Group acquires German plastics recycler

Budapest-based multinational integrated oil and gas company MOL Group has signed an agreement to acquire Aurora, a Germany-based recycled plastics compounder with production plants near the automotive manufacturing and plastics conversion areas of Baden-Württemberg, Germany.

Aurora collects postindustrial plastic scrap from manufacturers in Germany and then regrinds and compounds the scrap, ultimately supplying the automotive industry and other sectors with recycled-content plastic. The company’s portfolio largely consists of engineering plastics and polypropylene- (PP-) based compounds.

MOL says the Aurora acquisition will enable it to offer a range of polyamide, PP and other recycled-content compounds, complementing its existing portfolio of virgin PP and polyethylene. MOL says Aurora’s knowledge and logistics system will enable customers to efficiently reach a higher content of recycled material in their end products.

“In line with our MOL 2030 strategy, we have reached yet another milestone on our transformational journey to become the leading chemical player in the CEE [Central and Eastern European] region,” says Ferenc Horvath, MOL Group executive vice president of downstream. “This partnership will enable us to grow and add value to our petrochemical business as well as to increase our footprint in the automotive supplier market. As an established polymer player, we plan to use the strength of our integrated business model, while keeping the flexibility of Aurora as an independent compounder. At the same time, Aurora’s operations profile complements our initiatives in the recycling sector and reaffirm our commitment to sustainability and circular economy.”

György Bacsa, MOL Group senior vice president of group strategic operations and corporate development, comments, “We look forward to the future cooperation with our new partner and believe in the continuation and expansion of Aurora’s previous success as part of MOL Group.”

Aurora Group consists of Aurora Kunststoffe GmbH, Aurora Kunststoffe VS GmbH and Aurora Kunststoffe Walldürn GmbH. Early this year, the company completed the installation of a new compounding facility that will double its production capacity to 15,000 tons per year.