Hungary: Recycling cooperation between MOL and Meraxis, SEE Energy News
The aim of cooperation between Swiss trading group Meraxis and Hungarian oil and gas company MOL is to develop and produce high-quality recycle-based compounds and then distribute them worldwide so the companies are entering into a strategic partnership. They will be joining forces to forge ahead with the development and production of polyolefin re-compounds in the future.
Meraxis will supply MOL Group with high-quality, post-consumer recycled materials going forward to be blended with MOL virgin polyolefin resins. Using the combined compounding knowledge of Meraxis and MOL Group, a new product portfolio will be developed and firstly it is planned to be produced at Aurora Kunststoffe, a member of MOL Group in Germany. Distribution will be the responsibility of both partners in the future. The partnership will create a unique value proposition to the customers by providing competence in the entire product value chain from sourcing, compounding and sales to technical service.
This partnership is in line with MOL’s long-term strategy to expand its petrochemical business, and an important part of it was the takeover of the aforementioned company Aurora Kunststoffe in November 2019. This also continues the strategy called ‘Enter Tomorrow 2030’, which aims to move from a traditional business based on fossil fuels in the downstream segment to a portfolio of higher value-added petrochemical products, with the aim of taking the leading place in the field of recycling and production of recycled plastics in central and eastern Europe.