ROTTERDAM, Netherlands: LyondellBasell and Mepol Group have reached a definitive agreement for LyondellBasell to take over Mepol Group. The acquisition includes Mepol S.r.l, Polar S.r.l., and Industrial Technology Investments Poland Sp.z.o.o., all of which are in Italy and Poland, and specialize in producing high-performance recycled technical compounds.
"This acquisition demonstrates LyondellBasell's commitment to move the circular economy forward," stated Torkel Rhenman, executive vice president of Advanced Polymer Solutions. "With Mepol Group's expertise in sustainable compounds and LyondellBasell's scale, we will enhance our CirculenRecover and other sustainable solutions for our customers."
Mirco Melato, CEO of Mepol stated, "We are delighted to join forces with LyondellBasell, an industry leader we have admired for many years. LyondellBasell shares our commitment towards sustainability and with its scale and resources, the combined business will be better positioned to address customer needs."
LyondellBasell is continuing to innovate and pioneer circular and low Carbon solutions for its customers. The company started engineering work on a new advanced recycling plant at the Wesseling site in Germany back in November last year. In addition, they have been operating existing mechanical recycling facilities in the Netherlands and Belgium, with plans to build new plastic waste sorting and recycling plants in Houston, Germany, China, India and other locations - announced in the fourth quarter of 2022. With these developments, LyondellBasell is paving the way forward towards a more sustainable future.
Mepol Group has announced that its proposed transaction with LyondellBasell is subject to regulatory approval and other customary closing conditions. In the interim, Mepol Group will continue to operate independently. Jones Day and Wardynski & Partners have been hired by LyondellBasell as legal advisors for the transaction, and Special Affairs S.r.l. has been appointed as the financial advisor for Mepol Group, with Gitti & Partners providing legal counsel.