Circular Economy MOL Group Takes Over Plastic Recycling Firm Remat
MOL Group has acquired the Hungarian plastic recycling company Remat. With this move, MOL intends to develop customized virgin and recyclate solutions for its customers demanding circular materials.
Budapest/Hungary – MOL Group recently acquired Remat, a recycler with production plants located in Tiszaújváros and Rakamaz, Hungary, and a logistics hub in Bratislava, Slovakia. Remat is a market leading plastics recycler in Hungary with an annual processing capacity of 25,000 tons and almost 200 employees. The transaction fits into MOL’s portfolio and its goal to become a key player in the low carbon circular economy in Central and Eastern Europe.
Remat uses plastic waste from communal and industrial sources. The company prepares a wide range of polyethylene and polypropylene regranules and tailor-made products. Remat has an automatic selecting system, cleaning and regranulating equipment from leading manufacturers that can process up to 25,000 tons annually. With this acquisition, MOL will be able to develop tailor-made virgin and recyclate solutions to fulfill the ever-increasing demand of its customers for circular materials.
MOL Group launched its ‘Shape Tomorrow’ 2030+ Strategy in last February, fully integrated with a new sustainability strategy, and started to act already to deliver on it. One of the main pillars of the Strategy is integrating circular economy in MOL’s operation, the company will spend 1 billion in the next 5 years on new circular economy and green projects. Waste integration and utilization is a key element of the new sustainable approach.
“Our goal is to become a key player in the low-carbon circular economy in Central and Eastern Europe and this acquisition is a major step towards this fascinating goal,” said Gabriel Szabó, Executive Vice President of MOL Group Downstream.