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.
About LyondellBasell
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
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