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MOL Group completes Aurora acquisition

November 12/2019

MOSCOW (MRC) -- Petrochemicals company MOL Group (Budapest) announced that it acquired 100% of shares in Aurora, a plastics compounder based in Neuenstein, Germany, said Plasticstoday.

The deal reportedly reinforces MOLs 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 Germanys Baden-Wurttemberg 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 Groups experience and Auroras know-how, the long-term objective is to accelerate further market growth while relieving the burden on the environment.

Aurora has production plants located near automotive manufacturing and plastics conversion clusters in Baden-Wurttemberg, Germany.

Compounding and recycling are among the key areas defined in MOLs 2030 strategy and the automotive industry is a strategic sector, where both MOL and Aurora aim to tap into growing demand for recycled materials.

No financial details of the deal were disclosed.

As MRC informed earlier, in October 2019, Russian oil producer Lukoil and Hungarian energy company MOL are set to sign a settlement deal over contaminated oil.

According to ICIS-MRC Price report, Stavrolen (part of Lukoil), Russia's major polyolefins producer, has resumed its polypropylene (PP) production in Budennovsk after a long scheduled turnaround. The plant's customers said Stavrolen had fully resumed its PP production after the long scheduled maintenance by 15 October. The outage began on 6 September. The start-up of the plant"s high density polyethylene (HDPE) production will take place with a week delay.

MOL Hungarian Oil and Gas PLC is an integrated oil and gas company. The Company produces crude oil, petroleum products, bitumens, lubricants and natural gas. MOL owns and operates refineries, oil and gas pipelines, service stations, and natural gas storage facilities.
Author:Anna Larionova
Tags:petroleum products, crude oil, PP, PE, MOL Group, MOL Petrochemicals, Lukoil, Stavrolen.
Category:General News
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