Global chemicals company LyondellBasell announced today that it has entered into a definitive agreement to acquire Mepol Group, a manufacturer of recycled technical compounds located in Italy and Poland. The purchase of Mepol S.r.l. and its subsidiaries Polar S.r.l. and Industrial Technology Investments Poland Sp.z.o.o furthers its commitment to the circular economy, LyondellBasell said in the news release. The financial terms of the transaction were not disclosed.

Mepol has 30 years of experience in plastics recycling and in the production of thermoplastic compounds formulated with recovered materials. Its products are used in applications ranging from furniture and automotive to electronics. The group also provides customers with waste management and packaging recovery services in support of regulatory requirements and extended producer responsibility. For the second year in a row, it was named among the top 100 companies in Italy for its environmental, social, and governance (ESG) protocols in a program sponsored by KON, Credit Suisse, and Forbes.

"With Mepol Group's expertise in sustainable compounds and LyondellBasell's scale, we will enhance our CirculenRecover and other sustainable solutions for our customers,” said Torkel Rhenman, executive vice president of Advanced Polymer Solutions at LyondellBasell.

Mirco Melato, CEO of Mepol, commented: "We are delighted to join forces with LyondellBasell, an industry leader we have admired for many years. LyondellBasell shares our commitment toward sustainability, and with its scale and resources, the combined business will be better positioned to address customer needs."

Rotterdam, Netherlands–based LyondellBasell began engineering work on a new advanced recycling plant at its Wesseling, Germany, site in November 2022. The company has existing mechanical recycling facilities in the Netherlands and Belgium and is developing new plastic waste sorting and recycling plants in Houston, Germany, China, and India.

The deal is subject to regulatory approval and other customary closing conditions.