M&As: Borealis acquires Bulgarian recycler; IMCD China enters lubricants market with acquisition of Guangzhou RBD Chemical

Austrian chemical firm Borealis has announced that it 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.

Based in Elin Pelin, Bulgaria, Integra Plastics AD operates a modern advanced mechanical recycling plant built in 2019. Integra Plastics has the ability to transform post-consumer waste into high quality polyolefin recyclates suitable for demanding applications, it adds.

“In line with Borealis’ Strategy 2030, we continue making steady progress on our circularity journey by reinventing essentials for sustainable living. The addition of Integra Plastics AD will strengthen our ability to deliver on our advanced mechanical recycling ambition and enable our customers to meet their sustainability targets,” says Lucrèce Foufopoulos, Borealis Executive Vice President Polyolefins, Circular Economy Solutions and Innovation & Technology.

In other news, IMCD N.V., a distribution partner, formulator of speciality chemicals and ingredients, has announced that is to acquire the business of the speciality distribution company Guangzhou RBD Chemical Co in China (RBD).

Established in 2004, RBD focuses mainly on the lubricant additives and represents leading global suppliers. It is based in Guangzhou, China, and generated a revenue of approximately EUR10 million in 2022. It has 12 employees.

"The lubricants industry stands as the last missing piece in our business diversification within the Chinese industrial market, solidifying our presence across all major sectors," said Joe Cao, Commercial Director of IMCD China. Reflecting on the acquisition, Cao emphasized the meticulous efforts of the RBD team in cultivating the lubricants market in South China for 20 years. “This strategic move empowers us to establish our business coverage and footprint in the lubricants and energy market, allowing us to keep providing our partners and customers with the services and solutions that they are used to," concluded Cao.

"I hope RBD's 20 years of comprehensive resources can swiftly integrate into IMCD's global business model enhancing its commercial and operational strength in China's lubricant industry," remarked Xiang, President of RBD. "This acquisition symbolises a new journey, a catalyst for the joint development of both parties and support for IMCD in achieving more in the Chinese market,” concluded Xiang.

The closing of the transaction is subject to customary closing conditions and is expected to take place in the first quarter of 2024.

(PRA)

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