BULGARIA – Austrian chemical company, Borealis has signed an agreement for the acquisition of Integra Plastics AD, a Bulgarian advanced mechanical recycling player. Closing of this transaction is subject to customary regulatory approvals.
Austrian chemical company Borealis has inked a deal to acquire Integra Plastics AD, a Bulgarian advanced mechanical recycling entity.
The transaction’s closure is contingent on customary regulatory approvals.
Nestled in Elin Pelin, Bulgaria, Integra Plastics AD operates a cutting-edge recycling plant, erected in 2019, equipped with state-of-the-art machinery.
The company excels in converting post-consumer waste into premium-grade polyolefin recyclates tailored for demanding applications.
Lucrèce Foufopoulos, Borealis Executive Vice President for Polyolefins, Circular Economy Solutions, and Innovation & Technology, asserted, “Aligned with Borealis’ Strategy 2030, we are steadily advancing on our circularity journey by redefining fundamentals for sustainable living.”
Foufopoulos highlighted, “The integration of Integra Plastics AD bolsters our capacity to fulfill our aspiration in advanced mechanical recycling, empowering our clientele to achieve their sustainability objectives.”
This development follows Borealis’ announcement six months ago regarding the agreement to acquire Rialti S.p.A., a polypropylene (PP) compounder specializing in recyclates situated in the Varese region of Italy.
Rialti focuses on manufacturing sustainable polypropylene compounds, particularly emphasizing mechanically recycled PP feedstock sourced from post-industrial and post-consumer waste.
The impending acquisition is poised to augment Borealis’ expertise and capabilities, notably enhancing its portfolio in PP compounding and significantly amplifying its output of PP compounds derived from mechanical recyclates.
This augmentation aims to fortify Borealis’ specialized and circular portfolios, meeting the surging demand for a wider spectrum of sustainable, high-performance solutions.
Berlin Packaging acquires South Korean packaging supplier
In another development, Hybrid packaging supplier Berlin Packaging has acquired Nest-Filler PKG, a South Korean packaging supplier focused on beauty and cosmetic products.
Established in 2003, Nest-Filler offers a portfolio of glass and plastic packaging products. The company’s in-house research and development center uses solutions such as post-consumer resin (PCR) and refill technology.
Berlin Packaging Global CEO and president Bill Hayes commented “This is a strategic acquisition that expands our presence in Asia-Pacific and adds to our growing global beauty and cosmetic capabilities. It also offers our customers even greater access to skincare packaging made in South Korea, the industry leader for skincare products.”
Nest-Filler CEO Steve Shim added: we are eager to take an exciting step forward to provide our customers with access to Berlin Packaging’s impressive suite of packaging products and services while sharing our innovative packaging solutions.”
Berlin Packaging reports that all employees and locations for this acquisition will be retained.
The company is known in the industry for its regular acquisitions, which have recently included Coropoulis Packaging and StyleGlass. Its beauty and cosmetics offering is a key segment, as displayed in a stand-alone booth at Luxe Pack Monaco in September.
The global cosmetics packaging market is expected to grow at a CAGR of more than 2% during 2022-2027.