‘Newcycling’ technology has been developed by APK which is line with MOL’s growth strategy
MOL Group has signed a strategic cooperation agreement with APK AG, which will see MOL support the completion of APK’s Merseburg plant that will serve as a pilot for the innovative solvent-based process, called Newcycling, enabling the recovery of high-quality materials from complex multi-layer packaging.
Ferenc Horvath, MOL Group’s EVP for Downstream remarked that consistent with MOL 2030 strategy, they are taking steps to grow their petrochemicals business and enter knowledge intensive industries together with strategic partners. He said, “We see a growing demand from our customers for recycled plastics and at the same time we are also fully committed to the idea of circular economy and sustainability. We aspire to become leaders in recycling in Central and Eastern Europe and with today’s agreement we are marking the first milestone on this journey. MOL, as an established polymer player in CEE, together with an innovative partner as APK will work on further developing the Newcycling technology and bringing it to our core region where the need and the potential for plastic waste recycling is significant.”
An innovative recycling technology named Newcycling has been developed by APK that can be applied to a broad variety of mixed plastic types and process them into high-quality recyclates. At present, the first Newcycling plant using APK’s core technology is currently being set-up at APK’s headquarter in Merseburg.
Klaus Wohnig, APK’s speaker of the management board said that in the last couple of years, APK developed - funded by its financial investors MIG Fonds and AT Newtec - its Newcycling technology considerably and is reaching market maturity now, which they have proven in joint projects with leading players in the packaging, FMCG and plastics industry. “We are proud to enter now into a strategic partnership with MOL, a highly-reputed player in the polymer industry, in order to finalize our new plant in Merseburg and to enter jointly CEE, which we assess to be a very interesting market in future, since there is expected to be a strong trend from landfill and incineration towards recycling and a truly circular plastics economy. And with MOL’s strong roots in this region, we think MOL is the perfect partner to step into CEE.”
Expansion of the company’s petrochemicals value chain is one of the cornerstones of MOL Group 2030 strategy. MOL Group proposes investing around USD 4.5 billion until the end of the next decade into petrochemical and chemical growth projects. As plastic recycling is the most cost-efficient and environmentally friendly option for a responsible management of plastic waste, MOL Group intends to build up its recycling capabilities as part of this growth strategy. Plastic packaging is a sector where both partners recognize a growing demand for recycled materials and is one of the key strategic segments defined in MOL’s 2030 Enter Tomorrow Strategy. PWKD06082018
Latest from PWKD
- USA: Yesway Drives 45.2% of Its Loyalty Members from Pump to Store with Paytronix
- Uzbekistan: KFC First Fast-food Restaurant Launch in Uzbekistan
- Indonesia: PT Pertamina To Digitize Fuel Nozzles
- Paraguay: Petropar Unveils New Fuel Service Station
- Canada: Parkland Fuel Signs Agreement To Buy Rhinehart Oil Co., Inc.