LONDON (ICIS)--Borealis has completed the acquisition of Austria-based plastics recycler Ecoplast on expectations of substantial growth in the recycled polymers market in the next few years, the producer said on Wednesday.
The deal, announced in July, was carried out as part of Borealis’ long-term polyolefins growth strategy and an increasing focus on the recycling sector. Pricing terms were not diclsosed.
Ecoplast processes around 35,000 tonnes/year of post-consumer waste from households and industrial consumers and converts them into low- and high-density polyethylene (LDPE and HDPE) films.
The Ecoplast buy follows Borealis’ acquisition of post-consumer polyolefin recyclates producers mtm plastics and mtm compact in mid-2016. The company invested €15m in ramping up processing capacity from 60,000 to 80,000 tonnes/year earlier this year.
“As an important complement to mtm in Germany, Ecoplast will help us address critical sustainability challenges and become a polyolefin recycling leader,” said Borealis CEO Alfred Stern.
“Eventually, we want to use our experience to develop an effective blueprint for the end-of-use phases for plastics that can be applied in other parts of the world,” he added.