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MOL Group completes purchase of Aurora

December 10/2019

MOSCOW (MRC) -- MOL Group has concluded the acquisition of a 100% interest in Aurora, a recycled plastic compounder based in Neuenstein, Germany, for an undisclosed amount, said the company.

The purchase is in line with MOL's 2030 Strategy, which includes expanding its petrochemicals value chain with higher value-added products.

MOL plans to spend around $4.5 bn until the end of 2030 on petrochemical and chemical growth projects.

Compounding and recycling are among the key areas defined in its strategy.

As MRC informed earlier, MOL Petrochemicals Company (formerly known as TVK, part of the MOL Group), the only Hungarian producer of olefins and polyolefins, on 23 September announced force majeure on the supply of polypropylene (PP) from plant No. 4 at the petrochemical complex in Tiszaujvaros (Tiszaujvaros, Hungary).

According to MRC's ScanPlast report, Russia's supply of block copolymers of propylene (PP block copolymer) and homopolymer of propylene (homopolymer PP) increased, demand for statistical copolymers (PP random copolymer) decreased.

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, petrochemistry, MOL Group.
Category:General News
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