Austrian chemical company Borealis has closed the previously announced acquisition of Integra Plastics, an advanced mechanical recycling company based in Bulgaria.
The financial terms of the deal remain to be undisclosed. Integra Plastics runs a mechanical recycling facility located in Elin Pelin, Sofia. Inaugurated in 2019, the plant has an annual production capacity of over 20,000 tons.
The recycling firm specialises in converting post-consumer waste into polyolefin recyclates, which can be used in demanding applications.
The deal was announced in November last year and follows Borealis’ acquisition of Italy-based Rialti, a polypropylene (PP) compounder of recyclates.
The acquisition of Integra Plastics is anticipated to support Borealis’ speciality and circular portfolio to meet the increasing demand from customers for more environmentally friendly solutions.
Additionally, the Austrian firm’s leadership in innovation and know-how integration with Integra Plastics’ expertise in advanced mechanical recycling significantly advances circularity in the plastics industry.
Borealis polyolefins, circular economy solutions and innovation and technology executive vice president Craig Arnold said: “We are thrilled to announce that we continue making steady progress on our circularity journey by adding Integra Plastics AD to our portfolio.
“This move strengthens our ability to deliver on our advanced mechanical recycling ambition and simultaneously, enables our customers to meet their sustainability targets. A true testament to the fact that we are reinventing essentials for sustainable living.”
Borealis is jointly owned by OMV, an Austrian energy, fuels, feedstock, and chemicals firm, and UAE-based ADNOC.
Integra Plastics CEO Julian Stefanov said: “Borealis is one of the world’s leading providers of advanced and sustainable polyolefin solutions, and an innovative European leader in polyolefin recycling.
“I am pleased to see Integra Plastics’ capacity and expertise contributing to Borealis’ goal of further advancing circularity. I am confident that Borealis and Integra Plastics will face a future of growth and innovation, offering a wider range of advanced mechanical recyclates to their customers.”