LyondellBasell (LYB) announced today that it has entered into an agreement to acquire full ownership of APK AG, a company based in Merseburg, Germany. This acquisition is set to enhance LYB’s Circular and Low Carbon Solutions business by integrating APK’s solvent-based recycling technology with LYB’s existing mechanical and advanced recycling capabilities.
The transaction’s completion is subject to customary closing conditions. LYB has previously invested in APK and collaborated on scaling its technology, viewing APK’s recycling process as a strong complement to its own operations. The acquisition secures APK’s future following its insolvency filing in May 2024.
“We view APK’s solvent-based recycling technology as a crucial addition to our current and future recycling efforts,” said Yvonne van der Laan, LyondellBasell’s Executive Vice President of Circular and Low Carbon Solutions. “This acquisition aligns with our goal of producing and marketing at least 2 million metric tons of recycled and renewable-based polymers annually by 2030. APK’s motivated team and innovative culture will be an excellent fit for LYB, helping us strengthen our leadership in sustainability.”
Steve Döring, CEO of APK AG, added, “We are delighted to have secured an agreement with LYB, which will ensure the future of our company. LYB’s commitment to becoming a global leader in circular solutions makes it the perfect strategic partner to help us fully realize the potential of our unique solvent recycling technology.”
APK’s recycling technology specializes in low-density polyethylene (LDPE) and targets the recycling of flexible plastic waste, a significant component of consumer waste. This technology separates polymers in mixed plastic waste, producing high-purity recycled materials suitable for new flexible packaging, such as personal care products. These materials will be marketed under LYB’s Circulen portfolio.
This acquisition is a key part of LYB’s strategy, announced in March 2023, to become an industry leader in sustainability. As part of this strategy, LYB has formed a dedicated Circular & Low Carbon Solutions (CLCS) business, which is making significant investments in plastic-waste sorting and recycling operations across Europe, the United States, and Asia.
