Borealis expands its capacity for mechanical processing of plastics.
The Austrian company Borealis has agreed to acquire 100% of the shares of Integra Plastics (Bulgaria), specializing in the mechanical processing of plastic waste.
"We are pleased to announce that we continue to steadily move towards a closed cycle by adding Integra Plastics to our portfolio. This step strengthens the ability to realize our ambitions in the field of mechanical recycling of secondary raw materials and at the same time allows our customers to achieve their sustainable development goals," said Craig Arnold, Executive Vice President of Borealis.
The amount of the transaction was not disclosed.
Integra Plastics operates a state-of-the-art waste recycling plant, built in 2019. The plant is equipped with the latest equipment, its annual capacity is more than 20 thousand tons. The company has the ability to recycle household waste into high-quality polyolefin recycled materials.
By the end of 2023, the operating profit of the Austrian Borealis Group fell from 526 million euros in revenue in 2022 to a loss of 79 million euros. This was due to unfavorable market conditions, large volumes of inventory and weaker demand in all business sectors due to high inflation.
Source: nangs.org
The Austrian company Borealis has agreed to acquire 100% of the shares of Integra Plastics (Bulgaria), specializing in the mechanical processing of plastic waste.
"We are pleased to announce that we continue to steadily move towards a closed cycle by adding Integra Plastics to our portfolio. This step strengthens the ability to realize our ambitions in the field of mechanical recycling of secondary raw materials and at the same time allows our customers to achieve their sustainable development goals," said Craig Arnold, Executive Vice President of Borealis.
The amount of the transaction was not disclosed.
Integra Plastics operates a state-of-the-art waste recycling plant, built in 2019. The plant is equipped with the latest equipment, its annual capacity is more than 20 thousand tons. The company has the ability to recycle household waste into high-quality polyolefin recycled materials.
By the end of 2023, the operating profit of the Austrian Borealis Group fell from 526 million euros in revenue in 2022 to a loss of 79 million euros. This was due to unfavorable market conditions, large volumes of inventory and weaker demand in all business sectors due to high inflation.
Source: nangs.org