Borealis acquires Bulgarian mechanical recycling player Integra Plastics
04 Apr 2024 --- Borealis has closed its acquisition of Integra Plastics, an advanced mechanical recycling company based in Elin Pelin, Bulgaria, subject to customary regulatory approvals.
The deal was first explored in November 2023 and covers 100% stake in the recycling player.
“This move strengthens our ability to deliver on our advanced mechanical recycling ambition and simultaneously, enables our customers to meet their sustainability targets. A true testament to the fact that we are reinventing essentials for sustainable living,” says Craig Arnold, Borealis’ executive VP for Polyolefins, Circular Economy Solutions and Innovation & Technology.
Julian Stefanov, CEO at Integra Plastics, adds: “Borealis is one of the world’s leading providers of advanced and sustainable polyolefin solutions, and an innovative European leader in polyolefin recycling.”
“I am confident that Borealis and Integra Plastics will face a future of growth and innovation, offering a wider range of advanced mechanical recyclates to their customers.”
Bolstering polyolefin recyclates
Integra Plastics operates a modern advanced mechanical recycling plant built in 2019 with state-of-the-art equipment and an annual output capacity of more than 20,000 metric tons.
The company transforms post-consumer waste into polyolefin recyclates suitable for demanding applications.
Integra Plastics AD facility (Image credit: Borealis).Borealis says the acquisition strengthens its speciality and circular portfolio.
“Combining Integra Plastics’ expertise and capacity in advanced mechanical recycling with Borealis’ know-how and innovation leadership, contributes considerably to advancing circularity in the plastics industry.”
In other Borealis activities, the company recently secured a Letters of No Objection (LNOs) from the US FDA, affirming the safe use of specific grades of its Borcycle M PCR plastics. The LNOs pave the way for Borcycle M-derived materials to be used in a specific range of “demanding and sensitive applications,” including cosmetics and personal care.
Last month, Borealis and Vattenfall, one of Europe’s largest producers of electricity and heat, sealed their inaugural long-term renewable hydropower purchase agreement. Vattenfall will channel a total of 175 GWh of renewable electricity annually to Borealis over the next decade, from its hydropower plants located along the Lule River in Sweden to power Borealis’ operations in Stenungsund.
By Benjamin Ferrer
