MOL enters into recycled plastic compounding by acquiring Aurora
The Hungarian MOL Group has acquired recycled plastic compounder Aurora with production plants located nearby automotive manufacturing and plastics conversion clusters in Baden-Württemberg, Germany. Aurora is headquartered in Neuenstein with a closed loop concept assuming collection of post-industrial plastic waste, regrinding and compounding, ultimately supplying the automotive industry and other industries. The company’s portfolio largely consists of engineering plastics and PP recyclate-based compounds. With this investment, MOL said it will be able to offer a wide range of high-quality PA, PP and other recyclate-based compounds, complementing its existing portfolio of virgin PP and PE.
One of the cornerstones of MOL Group 2030 strategy is to expand the company’s petrochemicals value chain. As such, MOL plans to invest around USD 4.5 billion until the end of the next decade into petrochemical and chemical growth projects. Compounding and recycling are among the key areas defined in MOL’s 2030 strategy and the automotive industry is a strategic sector. The transaction is subject to the relevant merger control approvals.