Borealis has announced that it has signed an agreement for the acquisition of 100 per cent of the shares in Ecoplast Kunststoffrecycling (Ecoplast), an Austrian plastics recycler.

Based in Wildon, Austria, Ecoplast processes around 35 000 tonnes of post-consumer plastic waste from households and industrial consumers every year, turning them into LDPE and HDPE recyclates, primarily but not exclusively for the plastic film market.

Alfred Stern, Borealis Chief Executive, said: “It is a logical next step for us to expand our mechanical recycling capabilities, which are key to our sustainability and circular economy efforts. Borealis wants to be a provider for circular economy plastic solutions and we see Ecoplast as an important complement to mtm in Germany.

This transaction is subject to regulatory approvals.