MOL Group (Budapest, Hungary) has signed an agreement to acquire Aurora Kunststoffe GmbH, a recycled plastics compounder with production plants located near automotive manufacturing facilities and plastics conversion clusters in the state of Baden-Württemberg, Germany.
Aurora is a mid-sized Germany company, headquartered in Neuenstein, with a unique, lean closed-loop concept for the collection, regrinding and compounding of post-industrial plastic waste. The company’s portfolio largely consists of engineering plastics and polypropylene recyclate–based compounds, including materials such as PA 6, PA 6.6, PA 11, PA 12, POM, PP, PC and PC-ABS. It supplies customers in the automotive, furniture, electrical, construction and machine industries.
The investment will allow MOL to offer a wide range of high-quality polyamide, polypropylene and other recyclate-based compounds, complementing its existing portfolio of virgin polypropylene and polyethylene. Leveraging Aurora’s know-how and loop system, MOL will enable its customers to use a greater content of recycled materials in their end products in an efficient way, said MOL.
Ferenc Horvath, MOL Group Executive Vice President of Downstream, commented: “In line with our MOL 2030 Strategy, we have reached yet another milestone on our transformational journey to become the leading chemicals player in the CEE region. This partnership will enable us to grow and add value to our petrochemical business as well as to increase our footprint in the automotive supplier market. As an established polymer player, we plan to use the strength of our integrated business model, while keeping the flexibility of Aurora as an independent compounder. At the same time, Aurora’s operations complement our initiatives in the recycling sector and reaffirms our commitment to sustainability and the circular economy.”
One of the cornerstones of the MOL Group 2030 Strategy is to expand the company’s petrochemicals value chain. As such, MOL plans to invest around $4.5 billion through the end of the next decade in petrochemical and chemical growth projects. Compounding and recycling are among the key areas defined in MOL’s 2030 Strategy, and the automotive industry is a strategic sector, where both MOL and Aurora recognize a growing demand for recycled materials.
Gerhard Schweinle, Aurora founder and member of the management board, added, “In MOL Group, we have found a partner with the same drive for sustainable development and innovation as we have in Aurora. We are confident that MOL is the ideal partner for our company to advance our ambitious goals with regard to sustainability and environmental protection even more intensively than before. As part of MOL Group, one of Europe’s leading suppliers of polymers, Aurora will continue to expand its expertise in the processing of engineering plastics. Our extensive range of sustainably manufactured products and MOL’s many years of experience will enable us to work more intensively to protect our raw material resources and relieve the burden on the environment. Together with MOL, we will continue Aurora’s success story and accelerate our growth even further.”
Image courtesy Robert Kneschke/Adobe Stock.