LyondellBasell has completed the acquisition of Mepol Group, a manufacturer of recycled, high-performing technical compounds located in Italy and Poland.
Mepol S.r.l. and its subsidiaries Polar S.r.l. and Industrial Technology Investments Poland Sp.z.o.o, will be subsidiaries in LyondellBasell’s Advanced Polymer Solutions (APS) business unit, a statement said.
LyondellBasell’s APS segment produces and markets compounding solutions, such as polypropylene compounds, engineered plastics, masterbatches, engineered composites, colors and powders and is a global leader in compounding solutions, the statement said.
“The acquisition is forward-thinking and aligned with our commitment to a circular economy,” said Torkel Rhenman, executive vice president Advanced Polymer Solutions of LyondellBasell. “With Mepol’s deep expertise in recycled compounds and LyondellBasell’s strategy and scale, we see significant opportunities to accelerate the growth of our APS business by leveraging macro trends in circularity and creating solutions for everyday sustainable living.”
LyondellBasell is building a leadership position to address the rapidly growing demand for circular and renewable solutions with innovative products and technologies through its integrated value chain approach. The company is committed to produce and market at least 2 million metric tons of polymers from recycled or renewable-based sources annually by 2030, to meet its customers’ needs, according to the statement.
Jones Day and Wardynski & Partners served as LyondellBasell’s legal advisors on the transaction. Special Affairs S.r.l. served as Mepol Group’s financial advisor and Gitti & Partners acted as its legal advisor.
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