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MOL Group and APK form partnership on plastic recycling

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Hydrocarbon Engineering,


MOL Group, an oil and gas corporation based in Central and Eastern Europe, and APK AG, a recycling technology company, yesterday signed a strategic cooperation agreement for plastic recycling in Merseburg, Germany.

As a first step, MOL will support the completion of APK’s Merseburg plant. The plant will serve as a pilot for the solvent-based process, called Newcycling®, which enables the recovery of high-quality materials from complex multi-layer packaging and subsequent processing of them into recyclates.

Ferenc Horvath, MOL Group’s Executive Vice President for Downstream, commented: ”In line with MOL 2030 strategy, we are taking steps to grow our petrochemicals business and enter knowledge intensive industries together with strategic partners. We see a growing demand from our customers for recycled plastics and at the same time we are also fully committed to the idea of circular economy and sustainability. We aspire to become leaders in recycling in Central and Eastern Europe and with today’s agreement we are marking the first milestone on this journey. MOL, as an established polymer player in CEE, together with an innovative partner as APK will work on further developing the Newcycling® technology and bringing it to our core region where the need and the potential for plastic waste recycling is significant.”

Klaus Wohnig, APK’s speaker of the management board, pointed out: “In the last couple of years, APK developed - funded by its financial investors MIG Fonds and AT Newtec - its Newcycling® technology considerably and is reaching market maturity now, which we have proven in joint projects with leading players in the packaging, FMCG and plastics industry. We are proud to enter now into a strategic partnership with MOL, a highly-reputed player in the polymer industry, in order to finalize our new plant in Merseburg and to enter jointly CEE, which we assess to be a very interesting market in future, since there is expected to be a strong trend from landfill and incineration towards recycling and a truly circular plastics economy. And with MOL’s strong roots in this region, we think MOL is the perfect partner to step into CEE.”

One of the cornerstones of MOL Group’s 2030 strategy is to expand the company’s petrochemicals value chain. As such MOL Group plans to invest around US$4.5 billion until the end of the next decade into petrochemical and chemical growth projects. As part of this growth strategy MOL Group intends to build up its recycling capabilities.

Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/03082018/mol-group-and-apk-form-partnership-on-plastic-recycling/

 

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Europe downstream news Downstream petrochemical news