Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, announces today that it has fully acquired the German plastics 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.
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.
"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," explains Alfred Stern, Borealis Executive Vice President Polyolefins and Innovation & Technology. "This is why we are fully committed to the principles or the circular economy and with this acquisition we now take our engagement to plastics recycling to the next level."
As an industry leader, 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
• Daplen™ post-consumer recycling (PCR) solutions, innovative high-quality PCR compounds for automotive applications.
• 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.
Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. With headquarters in Vienna, Austria, the company currently has around 6,500 employees and operates in over 120 countries. Borealis generated EUR 7.7 billion in sales revenue and a net profit of EUR 988 million in 2015. The International Petroleum Investment Company (IPIC) of Abu Dhabi owns 64% of the company, the remaining 36% belonging to OMV, an international, integrated oil and gas company based in Vienna. Borealis provides services and products to customers around the world in collaboration with Borouge, a joint venture with the Abu Dhabi National Oil Company (ADNOC).
Building on its proprietary Borstar® and Borlink™ technologies and more than 50 years of experience in polyolefins, Borealis and Borouge support key industries with a wide range of applications in the areas of energy, automotive, pipes, consumer products, healthcare, and advanced packaging.
The Borouge 3 plant expansion will make Borouge the world's largest integrated polyolefins complex. Once fully ramped up in 2016, the additional 2.5 million tonnes of polyolefins capacity will yield a total Borouge capacity of 4.5 million tonnes, and a combined Borealis and Borouge capacity of 8 million tonnes.
Borealis offers a wide range of base chemicals, including melamine, phenol, acetone, ethylene, propylene, butadiene and pygas, servicing a wide range of industries. Borealis also creates real value for the agricultural industry, selling approximately 5 million tonnes of fertilizers. Technical nitrogen and melamine products complement the portfolio with applications ranging from mono-nitrogen oxide (NOx) abatement to glues and laminates in the wood working industry.
Borealis and Borouge aim to proactively benefit society by taking on real societal challenges and offering real solutions. Both companies are committed to the principles of Responsible Care®, an initiative to improve safety performance within the chemical industry, and work to solve the world's water and sanitation challenges through product innovation and their Water for the World™ programme.
For more information visit borealisgroup.com | mtm-plastics.eu | borouge.com | waterfortheworld.net/.
Borstar is a registered trademark of the Borealis Group.
Borlink and Water for the World are trademarks of the Borealis Group.