- LYB to acquire full ownership of APK AG in Merseburg, Germany.
- Closing of the transaction is subject to customary conditions.
- APK's solvent-based recycling tech targets low density polyethylene (LDPE).
- LYB aims to produce 2 million metric tons of recycled polymers annually by 2030.
Acquisition Agreement
LyondellBasell (LYB) has entered into an agreement to acquire full ownership of APK AG, based in Merseburg, Germany. This acquisition aims to enhance LYB's Circular and Low Carbon Solutions business through APK's solvent-based recycling technology.
Transaction Conditions
The closing of the transaction is subject to customary closing conditions. LYB had previously invested in APK and collaborated on scaling its technology. The acquisition secures APK's future following its insolvency in May 2024.
Recycling Technology
APK's unique solvent-based recycling technology focuses on low density polyethylene (LDPE). This technology separates different polymers in hard-to-recycle flexible plastic waste, producing high-purity recycled materials suitable for new flexible packaging, such as personal care products. These materials will be marketed under LYB's Circulen portfolio.
Sustainability Goals
In March 2023, LYB announced a new strategy to establish itself as an industry leader in sustainability. The company aims to produce and market at least 2 million metric tons of recycled and renewable-based polymers annually by 2030. As part of this strategy, LYB has formed a dedicated Circular & Low Carbon Solutions (CLCS) business, making substantial investments in plastic-waste sorting and recycling operations in Europe, the United States, and Asia.
