MOL Group and APK AG have signed a strategic cooperation agreement, according to which MOL will support the completion of APK’s Merseburg plant. This plant will act as a pilot for the innovative ‘Newcycling’ solvent-based process which enables the recovery of high-quality materials from complex multi-layered packaging.
The Newcycling process can be applied to a wide variety of mixed plastics and process them into high-quality recyclates. The plant using this technology is currently being set up at APK’s headquarters in Merseburg.
Ferenc Horvath, MOL Group’s EVP for Downstream said: “In line with the 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, a representative from APK’s board of management, said: “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 finalise 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.”
One of the key priorities of the MOL Group 2030 strategy is to expand its petrochemicals value chain. As such, the group plans to invest around USD 4.5 billion up to the end of the next decade into petrochemical and chemical growth projects. As part of this growth strategy it intends to build up its recycling capabilities, as plastic packaging is one of the key strategic segments defined in its 2030 Enter Tomorrow Strategy.