LYB completes acquisition of solvent-based recycling company APK | Hydrocarbon Engineering

Save to read list Published by Poppy Clements, Assistant Editor Hydrocarbon Engineering, Thursday, 17 October 2024 14:30

It is LYB’s ambition to further develop the company’s unique solvent-based technology for low density polyethylene (LDPE) and build commercial plants in the future. This will enable LYB to produce new high-purity materials that can be used in applications like flexible packaging for personal care products, meeting the demands of customers and brand owners.

"We are excited to complete the acquisition of solvent-based recycling technology company APK, securing the future of more than a hundred employees and adding another solution for our customers to meet their circularity ambitions and goals,” said Yvonne van der Laan, LYB Executive Vice President of circular and low carbon solutions. “This technology complements our excellent mechanical recycling technology, as well as our proprietary advanced recycling technology. We see this as a crucial addition to our portfolio on our journey to a circular economy, helping end plastic waste.”

The closing of the APK acquisition is another proof point of how LYB creates solutions for a better tomorrow, following the foundation stone laying of its first industrial-scale MoReTec plant for catalytic advanced recycling in Wesseling on 19 September 2024 with German Chancellor Scholz. With these investments, LYB aims to address rising demand for more sustainable solutions from customers and society.

“We are incredibly pleased to be part of LYB. LYB offers great expertise, career opportunities and financial strength to lift the company to the next level,” said Maik Pusch, Former Director of Corporate Development at APK AG and integration lead. “I am convinced this combination will help our technology reach its full potential, as well as securing a promising future for our employees.”

The recycling technology is a unique solvent-based kind for low density polyethylene (LDPE). LYB aims to increase the recycling of hard-to-recycle flexible plastic waste materials – which today make up most of the mixed plastic waste from the consumer sector. The materials produced will be sold under LYB’s Circulen portfolio.

Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/17102024/lyb-completes-acquisition-of-solvent-based-recycling-company-apk/

Embed article link: (copy the HTML code below):

This article has been tagged under the following:

Downstream news