Wednesday, May 18, 2022

HomeInnovationMOL Group acquires recycler ReMat, further integrating circular economy into its operation

MOL Group acquires recycler ReMat, further integrating circular economy into its operation

Hungary’s energy group MOL acquired ReMat, a recycler with production plants located in Tiszaújváros and Rakamaz, Hungary and a logistics hub in Bratislava, Slovakia. The transaction fits into MOL’s portfolio and its goal to become a key player in the low carbon circular economy in Central and Eastern Europe.

ReMat is Hungary’s market leader in plastics recycling, using plastic waste from communal and industrial sources. The company prepares a wide range of polyethylene and polypropylene regranules and tailor-made products. ReMat has an automatic selecting system, cleaning and regranulating equipment from leading manufacturers that can process up to 25,000 tons annually. With this acquisition, MOL will be able to develop tailor-made virgin and recyclate solutions to fulfil the ever-increasing demand of its customers for circular materials.

”We need plastic for our everyday life, plastic is good, what we don’t like is untreated plastic waste that is polluting the planet,” commented Gabriel Szabó, Executive Vice President of MOL Group Downstream. “MOL has started to invest in the circular economy because we all want to live in a better environment; and for that, we need more recycled goods. In addition, there is an increasing need from our customers for recycled material so good cause meets here with good business opportunities. With that in mind, in the last couple of years, we started to build a strong portfolio around recycling. And we won’s stop here: for a net-zero economy, we also have to use all kinds of waste as a resource, in a much more clever way than how we do today. Our goal is to become a key player in the low-carbon circular economy in Central and Eastern Europe and this acquisition is a major step towards this fascinating goal.”

“We have come a long way since our foundation and are incredibly proud to be a pioneer within Hungary’s plastic recycling industry,” added László Olasz, CEO of ReMat. “Over the last two decades, we have invested into state-of-the-art facilities and constantly expanded our processing capacities capable of supporting Hungary’s obligations towards the European Union regarding plastic recycling. We are excited to be joining MOL and look forward to continuing to drive growth for this attractive business.”

MOL Group launched its Shape Tomorrow 2030+ strategy last February, fully integrated with a new sustainability strategy and started to act already to deliver on it. One of the main pillars of the Strategy is integrating circular economy into MOL’s operation: the company will spend 1 billion uS dollars in the next 5 years on new circular economy and green projects. Waste integration and utilisation are key elements of the new sustainable approach.

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