ITALY – Austrian chemical company, Borealis has announced it has signed an agreement to acquire Italian recycled polypropylene (PP) compounds producer Rialti.
The companies have not disclosed the financial details of this transaction. The completion of this deal is now subject to certain customary conditions and regulatory approvals.
According to Borealis, this acquisition strengthens its own offering of circular polyolefin solutions by expanding its capacity to produce compounds based on recyclates to meet growing customer demand for sustainable solutions.
The transaction is also in line with the Austrian-based company’s ‘EverMinds’ platform, which aims to expand and accelerate plastic circularity efforts.
Lucrèce Foufopoulos, Executive Vice President Polyolefins, Innovation & Technology and Circular Economy Solutions at Borealis, said. “Over the past decade, we have made steady progress on our journey towards a circular economy.
“Rialti will expand our offering of circular solutions and further enable us to help our customers meet their sustainability goals.”
Based in Italy, Rialti focuses on mechanically recycled PP feedstock from post-industrial and post-consumer waste.
With over thirty years of experience, the company utilizes its annual capacity of 50,000 tonnes to make injection molding and extrusion PP compounds with applications in different industries, including automotive, appliances and construction.
Meanwhile, with headquarters in Vienna, Austria, Borealis provides advanced and sustainable polyolefin solutions and circular material solutions for different industries, including the consumer products, healthcare, energy, infrastructure and mobility sectors.
Borealis said it is currently expediting its efforts to transform towards a polyolefins’ circular economy and expand its geographical presence to address the needs of its customers on a global scale.
In March this year, the chemical company introduced a new high-barrier polypropylene (PP) mono-material pouch for dry food packaging.
This cost-effective packaging alternative was displayed during the European exhibition and conference Plastics Recycling Show Europe, currently underway in Amsterdam.
Developed in collaboration with value chain partners, this more sustainable high-barrier packaging format offers a range of benefits for the blown and cast film extrusion processes as well as for brand owners and end consumers.
As a mono-material PP packaging format, it can help meet ambitious recycling and waste reduction targets outlined in the EU’s Packaging and Packaging Waste Regulation (PPWR) as well as eco-modulation criteria for Extended Producer Responsibility (EPR) programs.
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