Swiss international trading group Meraxis have partnered with Hungarian petrochemical company MOL Group to produce high-quality recycle-based plastics with the aim of shipping them internationally, they announced in a briefing on Tuesday.
Credit: MOL Group
This comes after MOL Group's acquisition of Aurora Kunstoffe last November which saw an incremental shift in its business model from a traditional fuel-based model to a greener one in a scheme they dub "Enter Tomorrow 2030."
They hope to establish themselves as the market leaders for recycling and compounding in Eastern Europe.
Meraxis will supply the recycled materials, which will be melded with MOL Group's virgin polyolefin resins to create a new portfolio of items are to be created at a plant in Germany.
They hope to inspire consumer confidence by promising a consistent standard throughout all aspects of production.
The trading group has been expanding its portfolio of renewable materials for years, working with several partners to create a one-stop-shop for desirable petrochemical compounds.
Both parties have signed an exclusive agreement to handle all aspects of shipping and distribution.
Dr Stefan Girschik, CEO of the Meraxis Group, said: “MOL Group is a key strategic partner for us. As one of the leading polymer manufacturers in Europe, MOL Group has been committed to a closed-loop circular economy for years now.
“We aim to use the combined expertise of the two companies to meet the increasing demand for high-quality plastic recyclates in the automotive, construction and packaging industries.
"The potential offered by recyclates in the manufacture of high-quality plastic products is still far from exhausted. Strategic cooperations like this one, however, allow us to take a key step towards optimized recycling management.”
Gabriel Szabó, MOL Group’s Executive Vice President of Downstream, said: “Compounding is an important avenue for the transformational journey to become a leading chemical player in the Central and Eastern European region.
"As regulations and customer preferences are continuously changing, MOL Group has identified the importance of using recycled material, no matter the industry. The partnership will allow us to quickly develop recyclate re-compounds that meet the customer’s requirements and complement our virgin compounding development.
This partnership will give us access to top-quality raw material sources and we will continue using our international distribution networks to supply recycled materials in the desired quantity and quality."
He added: "In addition, Meraxis has extensive expertise spanning the entire value chain and together, we want to accelerate on the road to reaching our sustainability goals.”
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