ROTTERDAM, The Netherlands and FERRARA, Italy, July 5, 2023 /PRNewswire/ -- LyondellBasell (NYSE: LYB) has completed the acquisition of Mepol Group, a manufacturer of recycled, high-performing technical compounds located in Italy and Poland. Mepol S.r.l. and its subsidiaries Polar S.r.l. and Industrial Technology Investments Poland Sp.z.o.o, will be subsidiaries in LyondellBasell's Advanced Polymer Solutions (APS) business unit.
LyondellBasell's APS segment produces and markets compounding solutions, such as polypropylene compounds, engineered plastics, masterbatches, engineered composites, colors and powders and is a global leader in compounding solutions.
"The acquisition is forward-thinking and aligned with our commitment to a circular economy," said Torkel Rhenman, executive vice president Advanced Polymer Solutions of LyondellBasell. "With Mepol's deep expertise in recycled compounds and LyondellBasell's strategy and scale, we see significant opportunities to accelerate the growth of our APS business by leveraging macro trends in circularity and creating solutions for everyday sustainable living."
LyondellBasell is building a leadership position to address the rapidly growing demand for circular and renewable solutions with innovative products and technologies through its integrated value chain approach. The company is committed to produce and market at least 2 million metric tons of polymers from recycled or renewable-based sources annually by 2030, to meet its customers' needs.
Jones Day and Wardynski & Partners served as LyondellBasell's legal advisors on the transaction. Special Affairs S.r.l. served as Mepol Group's financial advisor and Gitti & Partners acted as its legal advisor.
We are LyondellBasell – a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors and society. As one of the world's largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. For more information, please visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.
About Mepol Group
With thirty years of experience, Mepol integrates sustainability across its industrial strategy, in the planning and control of its plastics recycling activities and in the production of thermoplastic compounds. Corporate social responsibility has always been a strategic asset for Mepol which, owing to a continuous research and development activity, has led to its focus on eco-sustainable products for various applications, from furniture to automotive, to the electrical and electronic sectors.
The group's mission is to accompany the customer in its transition path to recycled products and to provide waste management and packaging recovery services in support of regulatory requirements and extended producer responsibility.
For the second consecutive year, Mepol received recognition for the top 100 companies in Italy that stood out for the ESG score: the Sustainability Award promoted by KON, Credit Suisse and Forbes.
Cautionary Note Regarding Forward-looking Statements for LyondellBasell
The statements in this release relating to matters that are not historical facts are forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual results could differ materially from the projections, anticipated results, or other expectations expressed in this release, including, but not limited to, our ability to successfully integrate and operate the acquired business described in this release; and general economic conditions in geographic regions or markets served by LyondellBasell and its affiliates, or where operations of the Company and its affiliates are located. While these statements and projections are made in good faith, LyondellBasell and its management cannot guarantee that anticipated future results will be achieved. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the "Risk Factors" section of our Form 10-K for the year ended December 31, 2022, which can be found at www.LyondellBasell.com on the Investor Relations page and on the Securities and Exchange Commission's website at www.sec.gov