Austrian chemical giant Borealis has completed the deal on the acquisition of German plastic recyclers mtm plastics GmbH and mtm compact GmbH.

Based in Niedergebra, Germany, Mtm Plastics GmbH is regarded as a technology leader in the recycling of mixed post-consumer plastic waste and as one of Europe's largest producers of post-consumer polyolefin recyclates.

Borealis announced plans to acquire the companies in June.

“Over the past decade, innovations are increasingly addressing sustainability issues and caused stakeholders to rethink and reshape their approach to value creation. As a leader in our industry, it is a part of our responsibility to be in the driving seat to couple growth ambitions with providing solutions to solve society’s global challenges,” said Alfred Stern, Borealis Executive Vice President Polyolefins and Innovation & Technology.

“This is why we are fully committed to the principles of the circular economy and with this acquisition we now take our engagement to plastics recycling to the next level.”

The sister companies mtm plastics GmbH and mtm compact GmbH will become members of the Borealis Group. The two Managing Directors will remain in their roles to ensure business continuity.

Borealis is committed to the principles of a circular economy and embraces polyolefins recycling as a strategic part of the business. Over the last years, Borealis has been actively advancing its recycling and sustainability efforts, including its Daplen post-consumer recycling (PCR) solutions, innovative high-quality PCR compounds for automotive applications. It has also initiated design for recycling efforts, such as the „Full polyethylene (PE) laminate” to replace non-recyclable multilayer packaging and “Daploy™ high-melt-strength (HMS) polypropylene (PP) for improved recyclability.