The Hungarian Oil and Gas Group, also known as the MOL Group (located in Budapest, Hungary), and the German recycling company APK (located in Metzburg, Germany) signed a strategic cooperation agreement. MOL Group will fund APK company to complete the construction of a recycling plant in Metzburg. The factory will use independent innovative solvent-based physical recycling technology to recover high-quality plastic materials from complex multi-layer plastic packaging. This technology is called Newcycling.
Since China issued a ban on waste imports, the movement of large amounts of plastic waste in foreign countries has caused a lot of distress to various countries. Therefore, the recycling of plastics has become very important for resin suppliers and the entire processing industry. At the same time, considering the diversity of plastic and non-plastic materials used (including adhesives, metallized films, barriers, printing inks, etc.), recycling of multilayer plastic packaging has also become extremely challenging .
Ferenc Horvath, Executive Vice President of MOL Group, said: "Given MOL Group's 2030 strategy, we are not only taking effective measures to grow our petrochemical business, but also entering into knowledge-intensive industries with our strategic partners. We are aware of In response to the strong demand from customers for recycled plastics, we also fully adhere to the concept of circular economy and sustainable development. "Horvath added:" We are eager to become a leader in recycling in Central and Eastern Europe, and this agreement will become this goal. The first milestone of MOL Group. As a well-known polymer supplier in Europe, MOL Group will work with innovation partner APK to further upgrade Newcycling technology and promote it on a large scale. "
APK company general manager Klaus Wohnig said: "In the past few years, the new Newcycling recycling technology developed by APK has matured. We are honored to work with the MOL Group to strive to be a leader in the European plastic recycling industry, and we believe this It is a field with great development prospects.