The chemicals and polyolefins group Borealis has closed its takeover of the recycler Integra Plastics AD in early April. Borealis said that it now owned 100 per cent of the shares in the Bulgarian mechanical recycling company.
The purchase agreement was signed on 29 November 2023 and included the acquisition of Integra Plastics’ recycling facility with an annual capacity of more than 20,000 tonnes. The recycler turns post-consumer plastic into high-quality recycled polyolefins.
The integration of Integra Plastics would strengthen Borealis’ portfolio of speciality and circular products, the group said. Craig Arnold, Borealis’ executive vice president of polyolefins, circular economy solutions and innovation & technology, stressed the importance of this step to the company and its customers. "This move strengthens our ability to deliver on our advanced mechanical recycling ambition and simultaneously enables our customers to meet their sustainability targets,” he remarked
Julian Stefanov, Integra Plastics AD’s CEO, expressed his optimism about the companies’ future together, adding, "I am pleased to see Integra Plastics’ capacity and expertise contributing to Borealis’ goal of further advancing circularity. I am confident that Borealis and Integra Plastics will face a future of growth and innovation, offering a wider range of advanced mechanical recyclates to their customers.
Investment in Porvoo steam cracker is to enable increased use of circular feedstocks
This week, Borealis announced a €4.5m investment in the cracker furnaces of its integrated petrochemical complex in Porvoo, Finland. This is to enable the company to increase the share of recycled and renewable raw materials used in its ethylene and propylene production. The Porvoo investment programme has already been launched and is expected to be completed in 2025, according to Borealis.
The company puts the Porvoo steam cracker's nameplate capacity at 430,000 tonnes of ethylene and 263,000 tonnes of propylene per year. Three of the ten cracker furnaces in the olefins unit are to be modified to enable a total annual production of 120,000 tonnes of base chemicals based on renewable and recycled feedstocks.
"With a focus on reinventing essentials for sustainable living, our €4.5m investment in our steam cracker in Porvoo moves us closer to a future of circular economy transformation. Through strategic furnace modifications and a commitment to renewable and chemically recycled base chemicals, we are poised to elevate annual production to 120 kilotons, forging a path of environmental stewardship and economic resilience," commented Wolfram Krenn, Borealis executive vice president operations and base chemicals.
