MOL and APK form strategic partnership for plastics recycling
MOL Plc. (“MOL”) hereby notifies the market of the following:
MOL and APK, a German recycling technology company, signed a strategic cooperation agreement yesterday in Merseburg. As a first step in the cooperation, MOL will support the completion of APK’s new innovative plastics recycling plant in Merseburg. APK has developed an innovative solvent-based recycling technology named Newcycling® that can be applied to a broad variety of mixed plastics, processing them into high-quality recyclates. The first Newcycling® plant using APK’s core technology is currently being finalized in Merseburg. The partners will also explore joint projects in MOL’s core markets in CEE.
Ferenc Horváth, MOL Group’s EVP for Downstream commented:
”In line with MOL 2030 strategy, we are taking steps to grow our petrochemicals business and enter knowledge intensive industries together with strategic partners. We see a growing demand from our customers for recycled plastics and at the same time we are also fully committed to the idea of circular economy and sustainability. We aspire to become leaders in recycling in Central and Eastern Europe and with today’s agreement we are marking the first milestone on this journey. MOL as an established polymer player in CEE, together with an innovative partner as APK will work on further developing the Newcycling® technology and bringing it to our core region where the need and the potential for plastic waste recycling is significant.”
Klaus Wohnig, APK’s speaker of the management board pointed out:
„In the last couple of years, APK developed - funded by its financial investors MIG Fonds and AT Newtec - its Newcycling® technology considerably and is reaching market maturity now, which we have proven in joint projects with leading players in the packaging, FMCG and plastics industry. We are proud to enter now into a strategic partnership with MOL, a highly-reputed player in the polymer industry, in order to finalize our new plant in Merseburg and to enter jointly CEE, which we assess to be a very interesting market in future, since there is expected to be a strong trend from landfill and incineration towards recycling and a truly circular plastics economy. And with MOL’s strong roots in this region, we think MOL is the perfect partner to step into CEE.”