LyondellBasell (LYB), a global chemical industry leader, has agreed to acquire full ownership of APK AG, a German company specializing in solvent-based recycling technology, for an undisclosed sum. This acquisition aims to expand LYB's Circular and Low Carbon Solutions business and diversify its innovative recycling technologies.

APK AG's technology focuses on solvent-based low-density polyethylene (LDPE) recycling. It can separate different polymers from complex waste materials, producing high-purity recycled materials suitable for new flexible packaging, such as personal care products.

Through this acquisition, LYB aims to integrate APK's technology with its existing mechanical and advanced recycling operations. The company plans to increase the recycling of hard-to-recycle flexible plastic waste materials and work toward producing and marketing at least 2 million metric tons of recycled and renewable-based polymers annually by 2030.

Analyst QuickTake: In October 2023 , the company acquired a 25% stake in Cyclyx International to source recycled material and infrastructure for an integrated circular and low-carbon solutions hub in Houston. In July 2023 , LYB acquired a 50% stake in Dutch post-consumer plastic packaging waste processing company Stiphout Industries to integrate the company’s polypropylene (PP) and high-density polyethylene (HDPE) recycling technology with companies and products in its portfolio.