MOL Group Invests in Recycling and Waste Management Activities
Hungarian multinational oil and gas company MOL Group has acquired ReMat Zrt., a recycler with production plants located in Hungary, and a logistics hub in Slovakia.
According to the new owner, ReMat is a market-leading plastics recycler in Hungary with an annual processing capacity of 25,000 tons and almost 200 employees. The company, using plastic waste from communal and industrial sources, would prepare a wide range of polyethylene and polypropylene regranules and tailor-made products. With this acquisition, MOL would be able to develop tailor-made virgin and recyclate solutions to fulfill the ever-increasing demand of its customers for circular materials. “The transaction fits into MOL’s portfolio and its goal to become a key player in the low carbon circular economy in Central and Eastern Europe,” MOL Group underlined, which – due to its “Shape Tomorrow” 2030+ Strategy – intends to spend one billion US-Dollar in the next five years on new circular economy and green projects. Waste integration and utilization is a key element of the new sustainable approach.
As reported, the MOL Group has implemented investments already and is “continuously seeking the opportunities to grow the share of recycled materials in its product portfolio”. In November 2019, the first step was taken with the acquisition of Aurora Kunststoffe GmbH, a recycled plastic-based compounder in Germany. “With a total combined annual capacity of 40,000 tons of Aurora and ReMat, MOL can offer a wide range of sustainable compounds and regranulates for the automotive and packaging industries.”
The Group also has established a strategic partnership with German company APK, “whose solvent-based process is capable of producing high-quality polymers from complex plastic waste”. Recently, too, it entered into a strategic partnership with Swiss Meraxis; the aim is to “forge ahead with the development and production of polyolefin re-compounds in the future”. Furthermore, MOL is planning investments in the field of chemical recycling as well and taking serious steps towards further waste-management activities.
(Published in GLOBAL RECYCLING Magazine 2/2022, Page 19, Photo: ReMat Zrt.)
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