LyondellBasell (LYB) has announced an agreement to acquire full ownership of APK AG, a Germany-based producer of recycled polymers located in Merseburg.
LyondellBasell (LYB) acquires APK AG to enhance its sustainable polymer capabilities, marking a strategic move to bolster its circular and low-carbon solutions business.
APK has developed a unique solvent-based recycling technology specifically for low-density polyethylene (LDPE). This acquisition will enable LYB to expand and upgrade its existing capabilities in sustainable materials. Previously, LYB had invested in APK and collaborated on efforts to scale up this innovative technology. By acquiring APK, LYB ensures the company’s future after it faced insolvency at the end of May 2024.
“We see APK’s solvent-based recycling technology as a vital addition and complementary to our existing and future mechanical and advanced recycling operations. LYB acquires APK AG to enhance its sustainable polymer capabilities, bringing us closer to our goal of producing and marketing at least 2 million metric tons of recycled and renewable-based polymers annually by 2030,” stated Yvonne van der Laan, LyondellBasell’s Executive Vice President of Circular and Low Carbon Solutions. “We want to build on the excellent progress of APK and fully leverage its expertise in R&D, project engineering, and operations, solidifying our position as an industry leader in sustainability.”
LYB is particularly focused on increasing the recycling of hard-to-recycle flexible plastic waste, which currently constitutes the majority of mixed plastic waste from the consumer sector. APK’s technology effectively separates different polymers from flexible plastic waste, producing recycled materials with a high degree of purity, ideal for new flexible packaging applications, such as personal care products. The materials generated will be marketed under the LYB Circulen portfolio, further emphasizing LYB acquires APK AG to enhance its sustainable polymer capabilities in the industry.
About LyondellBasell
We are LyondellBasell (NYSE: LYB) ― a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors and society. As one of the world’s largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare.
