OMV unit Borealis closes takeover of Bulgaria's Integra Plastics

The acquiition bolsters Borealis’ portfolio of advanced mechanical recyclates, adding over 20,000 tonnes of annual recycling capacity and enabling the company to meet growing customer demand for more sustainable solutions, the Austrian company said in a statement.

Financial terms of the deal were not disclosed.

Integra Plastics’ expertise and capacity in advanced mechanical recycling, coupled with Borealis’ know-how and innovation leadership, will contribute to advancing circularity in the plastics industry. The acquisition also reflects Borealis’ commitment to accelerating the transition to a truly circular economy, the company said.

Integra Plastics, based in the two of Elin Pelin near Sofia, operates an advanced mechanical recycling plant built in 2019 with an annual output capacity of more than 20,000 tonnes.

OMV owns 75% of Borealis, with Abu Dhabi National Oil Company holding the remainder. Borealis, which generated a net profit of 216 million euro ($233.5 million) in 2023, employs over 6,000 staff and serves clients in some 120 countries.

($ = 0.925 euro)