MOL Group singed a sales-purchase agreement to acquire Aurora Group, a recycled plastic compounder with production plants located nearby automotive plants and plastics conversion clusters in Baden-Wurttemberg, Germany. The acquisition is in line with the company’s 2030 Strategy to extend petrochemical portfolio with higher value-added products.
Aurora is a medium-size German company, headquartered in Neuenstein, with a unique and lean closed loop concept assuming collection of post-industrial plastic waste, regrinding and compounding, ultimately supplying the automotive industry and other industries. The company’s portfolio largely consists of engineering plastics and polypropylene recycled-based compounds.
With this investment, MOL will be able to offer a wide range of high-quality polyamide, polypropylene and other recycled-based compounds, complementing its existing portfolio of polypropylene and polyethylene. Leveraging on Aurora’s know how and loop logistic system, MOL will enable the customers to reach higher content of recycled material in their end products, in an efficient way.
„In line with our MOL 2030 strategy, we have reached yet another milestone on our transformational journey to become the leading chemical player in the CEE region. This partnership will enable us to grow and add value to our petrochemical business as well as to increase our footprint in the automotive supplier market. As an established polymer player, we plan to use the strength of our integrated business model, while keeping the flexibility of Aurora as an independent compounder. At the same time, Aurora’s operations profile complements our initiatives in the recycling sector and reaffirm our commitment to sustainability and circular economy,” said Ferenc Horvath, MOL Group Executive Vice President of Downstream.
„In MOL Group, we have found a partner with the same drive for sustainable development and innovation as we have in Aurora. We are confident that MOL is the ideal partner for our company to advance our ambitious goals with regard to sustainability and environmental protection even more intensively than before. As part of MOL Group, one of Europe’s leading suppliers of polymers, Aurora will continue to expand its expertise in the processing of engineering plastics. Our extensive range of sustainably manufactured products and MOL’s many years of experience will enable us to work more intensively to protect our raw material resources and relieve the burden on the environment. Together with MOL, we will continue Aurora’s success story and accelerate our growth even further,” said Gerhard Schweinle, founder and member of the Management Board of Aurora.
One of the cornerstones of MOL Group 2030 strategy is to expand the company’s petrochemicals value chain. As such, MOL plans to invest around USD 4.5 billion until the end of the next decade into petrochemical and chemical growth projects. Compounding and recycling are among the key areas defined in MOL’s 2030 Strategy and the automotive industry is a strategic sector, where both MOL and Aurora recognize a growing demand for recycled materials.
The transaction is subject to the relevant merger control approvals and the value was not made public by the company.