MOL completes acquisition of plastics compounder Aurora
Petrochemicals company MOL Group (Budapest) announced that it has acquired 100% of shares in Aurora, a plastics compounder based in Neuenstein, Germany. The deal reportedly reinforces MOL’s position in sustainable compounding and as a materials supplier to the automotive sector.
A supplier of virgin polymers, MOL said that it is continuously looking for opportunities to extend its petrochemical value chain toward higher added-value products. To achieve this objective, the group is seeking to expand synergies and gain expertise in both virgin-based and recycled plastic compounding. With the acquisition of Aurora, MOL Group said that it is further expanding its product portfolio in engineering plastics and polypropylene recyclate-based compounds and supporting its sustainability goals.
Aurora operates production plants in proximity to automotive manufacturing and plastics conversion clusters located in Germany’s Baden-Württemberg region. Moreover, Aurora has a unique closed-loop business model: It collects industrial plastic waste, recycles it and then upgrades the properties of the material into an enhanced plastic that suits the requirements of the car manufacturing industry. By combining MOL Group’s experience and Aurora’s know-how, the long-term objective is to accelerate further market growth while relieving the burden on the environment.
“The recyclate-based products of Aurora greatly complement our current product line, underlining our increasing efforts toward sustainable development," said Ferenc Horváth, Executive Vice President of MOL Group Downstream. "As we strive to strengthen MOL Group’s presence as an automotive supplier, we recognized compounding as a key activity that we want to integrate into our business portfolio,” said Ferenc Horváth, Executive Vice President of MOL Group Downstream.