LyondellBasell has agreed to acquire Mepol Group, a manufacturer of recycled technical compounds based in Italy and Poland. The acquisition will enhance LyondellBasell's sustainable solutions and commitment to the circular economy. Mepol Group's CEO, Mirco Melato, expressed excitement about joining forces with LyondellBasell, citing their shared commitment to sustainability. LyondellBasell is also developing new plastic waste sorting and recycling plants in various locations. The transaction is subject to regulatory approval, and Mepol Group will continue to operate independently during this period. Mepol Group has a focus on eco-sustainable products and has received recognition for its ESG score.
ROTTERDAM, Netherlands and FERRARA, Italy -- LyondellBasell (NYSE: LYB) and Mepol Group today announced they have entered into a definitive agreement for LyondellBasell to acquire Mepol Group, a manufacturer of recycled, high-performing technical compounds located in Italy and Poland, consisting of Mepol S.r.l. and its subsidiaries Polar S.r.l. and Industrial Technology Investments Poland Sp.z.o.o.
LyondellBasell announces decision to acquire Mepol Group
"This acquisition demonstrates LyondellBasell's commitment to move the circular economy forward," said Torkel Rhenman, executive vice president of Advanced Polymer Solutions. "With Mepol Group's expertise in sustainable compounds and LyondellBasell's scale, we will enhance our CirculenRecover and other sustainable solutions for our customers."
Mirco Melato, CEO of Mepol commented, "We are delighted to join forces with LyondellBasell, an industry leader we have admired for many years. LyondellBasell shares our commitment towards sustainability and with its scale and resources, the combined business will be better positioned to address customer needs."
LyondellBasell continues to pioneer circular and low carbon solutions for its customers. The company began engineering work for a new advanced recycling plant at its Wesseling, Germany site in November last year. LyondellBasell has existing mechanical recycling facilities in the Netherlands and Belgium and is developing new plastic waste sorting and recycling plants in Houston, Germany, China and India, which was announced during the fourth quarter of 2022.
The transaction closing is subject to regulatory approval and other customary closing conditions. During this period, Mepol Group will continue to operate on a standalone basis. Jones Day and Wardynski & Partners served as LyondellBasell's legal advisor on the transaction. Special Affairs S.r.l. served as Mepol Group's financial advisor and Gitti & Partners is acting as its legal advisor.
About Mepol Group
With thirty years of experience, Mepol integrates sustainability across its industrial strategy, in the planning and control of its plastics recycling activities and in the production of thermoplastic compounds formulated making use of recovered materials. Corporate social responsibility has always been a strategic asset for Mepol which, owing to a continuous research and development activity, has led to its focus on eco-sustainable products for various applications, from furniture to automotive, to the electrical and electronic sectors.
The group's mission is not limited to accompanying the customer in its the transition path to recycled products, but reaches out to providing waste management and packaging recovery services in support of regulatory requirements and extended producer responsibility.
For the second consecutive year, Mepol received recognition for the top 100 companies in Italy that stood out for the ESG score: the Sustainability Award promoted by KON, Credit Suisse and Forbes.