The MOL Group takes over the ReMat company, which produces regranulate from waste

The MOL Group has announced the acquisition of the Hungarian company ReMat, which specializes in the production of regranulate from municipal and industrial waste, the company said. As a result of the transaction, MOL's total plastics processing capacity will reach 40,000. tonnes per year, including the production capacity of the German company Aurora, acquired in 2019.

ReMat has two production plants in Hungary and its own logistics center in Slovakia. The annual production of both plants reaches 25 thousand. tonnes, and the company employs nearly 200 people. For production, the raw material is obtained from municipal and industrial waste. On their basis, a wide range of polyethylene and polypropylene regranulates, as well as custom-made products, are underlined.

In February last year MOL has announced the "Shape Tomorrow 2030+" strategy, an integral part of which is its sustainability goals. One of the main assumptions that the company has already started to implement is the wider use of circular economy solutions in its operations. For this purpose, the group will allocate USD 1 billion over the next 5 years. Waste management issues are an important direction of the new, integrated approach, according to the material.

We need plastic in our daily lives. Plastic itself is not bad. However, we do not want plastic waste to contaminate the planet. MOL invests in a circular economy because we all want to live in a safe environment. Therefore, we must recycle on a large scale. On the other hand, we see a growing interest in recycled raw material among our customers, so a good cause goes hand in hand with a good business opportunity. For this reason, we have been strengthening our presence in this market segment for several years.[...] ”said MOL Group vice president responsible for downstream Gabriel Szabó, quoted in the release.

The Hungarian concern MOL is active in the production and processing of crude oil (it has production assets in 8 countries, it also owns 4 refineries and 2 petrochemical units). Since 2004, it has been listed on the Warsaw Stock Exchange. In 2021, it had $ 19.61 billion in revenue.

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