Circular Economy News — Week 37

📫 newsletter signup for early & regular updates 👉 click-me

1. LyondellBasell to Fully Acquire Insolvent Recycler APK, Targeting 2 Million Tonnes Recycled Plastics by 2030 — Major Sustainability Boost ♻️

LyondellBasell, a global polyolefin producer, has taken a significant step by aiming to acquire the bankrupt APK recycling company in Merseburg, Germany. This move is part of its broader goal to significantly enhance its recycling capabilities and sustainability offerings, with a target of processing 2 million tonnes of recycled and bio-based plastics by 2030. The deal, still subject to antitrust approvals, highlights the growing importance of circular solutions in the plastics industry.

• The acquisition aligns with LyondellBasell’s ambitious goal to increase recycled plastic capacities to 2 million tonnes per year by 2030.

• APK’s solvent-based technology will enable the recycling of complex multilayer packaging materials made from LDPE.

• LyondellBasell first invested in APK in March 2023, but financial disagreements stalled further development, leading to APK’s insolvency.

• Co-investor Kirkbi, owner of Lego, is now exiting the venture, allowing LyondellBasell to pursue full control of APK.