LyondellBasell (LYB) announced it closed the full acquisition of Germany-based plastics recycler APK on Oct. 17.
The acquisition negotiations were first announced at the end of August. APK entered insolvency self-administration procedures in May 2024 and had since been looking for new investors. The economic situation of the Merseburg-based company deteriorated during a period when its investors could not agree on the expansion of its Newcycling solvent-based plastics recycling technology.
LYB has now confirmed that it plans to ‘further develop the company’s unique solvent-based technology for low density polyethylene (LDPE) and build commercial plants in the future’.
LYB first invested in APK in February 2023, alongside Kirkbi, the family-owned holding and investment company of the Lego brand. At the time, the two companies helped raise €130 million to build a large-scale Newcycling plant in Merseburg, Germany. Other investors included German venture capital firms MIG Capital, AT Newtec, and Salvia.
“We are excited to complete the acquisition of solvent-based recycling technology company APK, securing the future of more than a hundred employees and adding another solution for our customers to meet their circularity ambitions and goals,” said Yvonne van der Laan, LYB executive vice president of circular and low carbon solutions.
APK’s patented technology allows plastic waste, such as multi-layer packaging materials, to be processed into high-quality LDPE recyclates for flexible packaging applications such as personal care products. LYB plans to sell products manufactured using Newcycling technology under its Circulen portfolio of sustainable polymers.
“This technology complements our excellent mechanical recycling technology, as well as our proprietary chemicals recycling technology,” van der Laan continued. “We see this as a crucial addition to our portfolio on our journey to a circular economy, helping end plastic waste,” she concluded.
LYB has made a series of investments in plastics recycling in Germany over the last couple of years, including laying the foundation stone of its Wesseling chemical recycling plant and revamping a recycling hub for automotive parts.
*Correction: a previous version of this article said that around 100 employees were set to lose their jobs. This was based on a calculation from information on APK’s website mentioning it employs around 200 staff. Sustainable Plastics was later informed that figure is no longer accurate and therefore it is not accurate that around 100 employees will lose their jobs. LYB is saving more than 100 jobs at APK.
Source: sustainableplastics.com
