Hungarian oil and gas company MOL Group has acquired German plastic compounder Aurora, a Germany-based recycled plastics compounder.
In a statement, MOL Group said that it was strengthening its position in the recycled, sustainable compounding segment and the automotive supplier industry as a result of the acquisition.
MOL Group is a well-established virgin polymer supplier and it said that it was continuously looking for opportunities to extend its petrochemical value chain towards higher added-value products.
To reach this goal, MOL aims to widen the synergies with its current polymers product portfolio via both organic and inorganic developments, to gain expertise and high-end capabilities in both virgin-based and recycled plastic compounding, the firm said.
Aurora, with production plants located nearby automotive manufacturing and plastics conversion clusters in Baden-Württemberg, Germany has a “unique and lean closed-loop business model”, MOL said.
Aurora collects the industrial plastic waste, recycles it and then upgrades the properties of the material into an enhanced plastic that suits the requirements of the customers in the car manufacturing industry.
MOL said that its acquisition of Aurora was “another important milestone” in MOL Group’s transformational journey to become the leading chemical player in CEE, after the partnering with German APK in plastic recycling.
“The recyclate-based products of Aurora greatly complement our current product line, underlining our increasing efforts towards sustainable development. As we strive to strengthen MOL Group’s presence as an automotive supplier, we recognized compounding as a key activity which we want to integrate in our business portfolio,” said Ferenc Horváth, Executive Vice President of MOL Group Downstream.