Facilities in Poland and Italy will generate recycled and polymer compounds for assorted marketplaces
ROTTERDAM, Netherlands and FERRARA, Italy, March 13, 2023 /PRNewswire/ — LyondellBasell (NYSE: LYB) and Mepol Group today announced they have entered into a definitive settlement for LyondellBasell to obtain Mepol Group, a company of recycled, high-accomplishing technical compounds situated in Italy and Poland, consisting of Mepol S.r.l. and its subsidiaries Polar S.r.l. and Industrial Technological innovation Investments Poland Sp.z.o.o.
“This acquisition demonstrates LyondellBasell’s dedication to move the circular economy ahead,” stated Torkel Rhenman, executive vice president of Highly developed Polymer Solutions. “With Mepol Group’s experience in sustainable compounds and LyondellBasell’s scale, we will boost our CirculenRecuperate and other sustainable answers for our buyers.”
Mirco Melato, CEO of Mepol commented, “We are delighted to be part of forces with LyondellBasell, an industry leader we have admired for many a long time. LyondellBasell shares our determination in the direction of sustainability and with its scale and methods, the put together enterprise will be greater positioned to deal with customer requirements.”
LyondellBasell carries on to pioneer circular and reduced carbon remedies for its customers. The firm began engineering operate for a new innovative recycling plant at its Wesseling, Germany web page in November very last yr. LyondellBasell has present mechanical recycling facilities in the Netherlands and Belgium and is producing new plastic squander sorting and recycling crops in Houston, Germany, China and India, which was introduced in the course of the fourth quarter of 2022.
The transaction closing is subject to regulatory approval and other customary closing problems. For the duration of this time period, Mepol Team will proceed to run on a standalone basis. Jones Working day and Wardynski & Companions served as LyondellBasell’s authorized advisor on the transaction. Exclusive Affairs S.r.l. served as Mepol Group’s fiscal advisor and Gitti & Companions is performing as its authorized advisor.
As a chief in the world-wide chemical business, LyondellBasell strives every working day to be the safest, finest operated and most valued company in our marketplace. The firm’s merchandise, products and systems are advancing sustainable solutions for food basic safety, access to thoroughly clean h2o, health care and fuel performance in far more than 100 international markets. LyondellBasell destinations substantial precedence on range, equity and inclusion and is Advancing Superior with an emphasis on our earth, the communities where we function and our long run workforce. The corporation will take terrific pleasure in its environment-class technology and buyer aim. LyondellBasell has stepped up its circularity and weather ambitions and actions to tackle the world-wide worries of plastic waste and greenhouse gasoline emissions reduction. For additional data, you should go to www.lyondellbasell.com or adhere to @LyondellBasell on LinkedIn.
About Mepol Team
With 30 many years of experience, Mepol integrates sustainability throughout its industrial approach, in the preparing and regulate of its plastics recycling routines and in the generation of thermoplastic compounds formulated building use of recovered products. Corporate social obligation has usually been a strategic asset for Mepol which, owing to a constant investigate and growth activity, has led to its concentrate on eco-sustainable products and solutions for several purposes, from furniture to automotive, to the electrical and digital sectors.
The group’s mission is not restricted to accompanying the customer in its the transition path to recycled merchandise, but reaches out to giving waste administration and packaging recovery expert services in assistance of regulatory demands and prolonged producer obligation.
For the 2nd consecutive calendar year, Mepol acquired recognition for the top 100 businesses in Italy that stood out for the ESG score: the Sustainability Award promoted by KON, Credit history Suisse and Forbes.
Cautionary Observe About Ahead-on the lookout Statements for LyondellBasell
The statements in this launch relating to issues that are not historic points are forward-searching statements. These ahead-hunting statements are dependent on assumptions of administration which are believed to be fair at the time designed and are issue to substantial risks and uncertainties. Actual benefits could differ materially from the projections, anticipated success, or other anticipations expressed in this release, including, but not constrained to, receipt of needed regulatory approvals our ability to correctly integrate and work the acquired business explained in this launch and common financial ailments in geographic regions or markets served by LyondellBasell and its affiliate marketers, or the place operations of the Company and its affiliates are situated. Although these statements and projections are created in very good faith, LyondellBasell and its management can not promise that expected long run benefits will be accomplished. Added aspects that could cause outcomes to differ materially from these described in the ahead-looking statements can be uncovered in the “Hazard Variables” segment of our Kind 10-K for the calendar year finished December 31, 2021, which can be uncovered at www.LyondellBasell.com on the Trader Relations page and on the Securities and Trade Commission’s site at www.sec.gov.
Source LyondellBasell Industries