Hungarian oil and gas company MOL Group is acquiring Aurora, a recycled plastic compounder with production plants located close to automotive manufacturing and plastics conversion clusters in Baden-Württemberg, Germany.
With this investment, MOL will be able to offer a wide range of high-quality polyamide, polypropylene and other recyclate-based compounds, complementing its existing portfolio of virgin polypropylene and polyethene.
“In line with our MOL 2030 strategy, we have reached yet another milestone on our transformational journey to become the leading chemical player in the CEE region,” said Ferenc Horvath, MOL Group executive vice president of downstream.
“This partnership will enable us to grow and add value to our petrochemical business as well as to increase our footprint in the automotive supplier market. As an established polymer player, we plan to use the strength of our integrated business model, while keeping the flexibility of Aurora as an independent compounder. At the same time, Aurora’s operations profile complements our initiatives in the recycling sector and reaffirm our commitment to sustainability and circular economy.”
One of the cornerstones of the MOL Group 2030 strategy is to expand the company’s petrochemicals value chain. As such, MOL plans to invest around five billion euros until the end of the next decade into petrochemical and chemical growth projects.