LyondellBasell Expands Circular Solutions with APK AG Acquisition
LyondellBasell (LYB) has announced its agreement to acquire full ownership of APK AG, a leader in solvent-based recycling technology located in Merseburg, Germany. This strategic move is designed to grow LYB's Circular and Low Carbon Solutions business by integrating APK's unique recycling technology with LYB's existing capabilities.
The acquisition aligns with LYB's ambition to market at least 2 million metric tons of recycled and renewable-based polymers annually by 2030. APK's technology is particularly valuable as it specializes in recycling low-density polyethylene (LDPE), a common component of flexible plastic waste. This technology efficiently separates various polymers, resulting in recycled materials with high purity, suitable for new packaging applications.
Enhancing Recycling Capabilities
By integrating APK's solvent-based recycling process, LYB aims to improve the recycling rates of hard-to-recycle plastics, which predominantly come from consumer waste. This is crucial for transforming mixed plastic waste into high-quality recycled materials, marketed under the LYB Circulen portfolio.
Strategic Fit and Growth Opportunities
Yvonne van der Laan, Executive VP of Circular and Low Carbon Solutions at LYB, emphasized that APK's culture and technology complement LYB's existing recycling operations. The acquisition not only preserves APK's innovative approach but also supports LYB's strategic goal of becoming a leader in sustainable solutions.
Steve Döring, CEO of APK AG, expressed confidence in the partnership, noting that LYB's global reach and commitment to circular solutions provide a strong foundation for realizing APK's full potential.
A Commitment to Sustainability
LYB's strategy, revealed in March 2023, underscores a commitment to sustainability through significant investments in sorting and recycling infrastructure across Europe, the US, and Asia. With the formation of a dedicated Circular & Low Carbon Solutions business, LYB aims to leverage innovative technologies to drive sustainable growth.
LYB's acquisition of APK AG marks a significant step toward reducing plastic waste and enhancing its technology portfolio, positioning the company as a frontrunner in the transition to a circular economy.
