TotalEnergies acquires Spanish plastics recycler

TotalEnergies, a global petrochemical company based in Paris, has acquired Iber Resinas, a plastics recycler based in Spain. Iber Resinas recycles polypropylene, polyethylene and polystyrene derived from household and industrial waste at its two plants near Valencia, Spain. The company also has a large network of direct customers to whom it sells its products for the manufacture of automotive parts, packaging and building materials.

TotalEnergies says this acquisition will increase its production of circular polymers in Europe, extend its range of recycled products and enhance its access to feedstock through Iber Resina’s network of suppliers.

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“This acquisition is a further step towards achieving our ambition of increasing the share of circular polymers in our plastics production to 30 percent by 2030,” says Nathalie Brunelle, senior vice president of Polymers, Refining & Chemicals at TotalEnergies. “We are pleased to welcome Iber Resinas’ teams and combine their recycling know-how with TotalEnergies’ polymers expertise.”

According to a news release from TotalEnergies, Iber Resinas will leverage synergies with TotalEnergies’ operations to develop quality products and will benefit from the company’s ability to accelerate its growth.

“Joining TotalEnergies is a great satisfaction but also an opportunity to strengthen and develop Iber Resinas. It will allow us to jointly build on our work, knowledge and development in Spain and the EU in the polymer recycling sector and meet the new challenges and ambitions of our customers,” says Santiago Sanz and Borja Sanz, owners and managing directors of Iber Resinas.