LYB completes acquisition of solvent-based recycling company APK

Core Insights - LyondellBasell has acquired full ownership of APK AG, a company specializing in solvent-based recycling technology, to enhance its sustainability initiatives and secure the future of its employees [1][2][3] - The integration of APK AG will allow LyondellBasell to further develop its unique solvent-based technology for low density polyethylene (LDPE) and establish commercial plants for producing high-purity materials [1][3] - The acquisition aligns with LyondellBasell's strategy to lead in sustainability and meet rising customer demands for circular economy solutions [2][4] Company Developments - The acquisition of APK AG is expected to secure the future of over a hundred employees and provide additional solutions for customers aiming to achieve circularity goals [2][3] - LyondellBasell is committed to increasing the recycling of hard-to-recycle flexible plastic waste, which constitutes a significant portion of consumer sector mixed plastic waste [3] - The materials produced from this technology will be marketed under LyondellBasell's Circulen portfolio, emphasizing the company's focus on sustainable solutions [3] Strategic Initiatives - In March 2023, LyondellBasell announced a new company strategy aimed at establishing itself as a leader in sustainability, which includes substantial investments in plastic-waste sorting and recycling operations across Europe, the United States, and Asia [4] - The company has laid the foundation for its first industrial-scale MoReTec plant for catalytic advanced recycling, further demonstrating its commitment to sustainable practices [2][4]