LyondellBasell Acquires APK AG

LyondellBasell (LYB) announced that is has acquired full ownership of APK AG (APK) in Merseburg, Germany.

Now, LYB is set up to upgrade its ventures in circular business and low-carbon solutions while also securing the future of APK following its debt issues back in May. LYB mentioned in the press release that it sees APK’s solvent-based recycling technology as a perfect fit with its existing mechanical and advanced recycling technologies.

"We see APK's solvent based recycling technology as a vital addition and complementary to our existing and future mechanical and advanced recycling operations. This is an important further step toward reaching our goal to produce and market at least 2 million metric tons of recycled and renewable based polymers annually by 2030," says Yvonne van der Laan, LyondellBasell Executive Vice President, Circular and Low Carbon Solutions.

"The highly motivated culture of APK will be an excellent fit for LYB. We want to build on the excellent progress of APK and fully leverage its expertise of R&D, project engineering and operations teams, solidifying our position as an industry leader in sustainability."

LYB is positioning itself to increase the recycling rate of hard-to-recycle flexible plastics using APK’s solvent-based recycling technology. The technology produces high purity recycling materials from the hard to recycle plastic waste, which can then be used for new, flexible packaging. These materials will be sold under the LYB Circulen portfolio.

"We are very pleased that we entered into an agreement with LYB, securing the future of the company," says Steve Döring, CEO of APK AG.

"With its ambition to be a global leader in circular solutions and technologies, LYB is a perfect strategic fit that allows investments into growth opportunities ensuring that our unique solvent recycling technology can realize its full potential."