TotalEnergies' Acquisition of IberResinas to Boost Plastic Recycling Activities

SEATTLE (Scrap Monster): TotalEnergies SE- the French multinational integrated energy and petroleum company announced its decision to acquire IberResinas- the Spain-based leader in mechanical plastic recycling activities. The acquisition is expected to expand its plastic recycling activities in Europe and boost its production of circular polymers in the region.

IberResinas specializes in recycling polypropylene, polyethylene, and polystyrene from household and industrial waste. The company runs two plants near Valencia, Spain. In addition, it has a significantly large network of direct consumers who use recycled products from these facilities.

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The incorporation of IberResinas into TotalEnergies’ operations is expected to deliver significant synergies. Also, the acquisition represents a significant step forward in helping TotalEnergies meet its ambitious goal to boost the share of circular polymers in its plastic production to 30% by the end of this decade.

The strategic move will enable both the companies to make use of their respective expertise to boost polymer recycling activities, not only in Spain, but also in the entire European Union region, thus providing a huge stimulus to European plastic recycling activities and sustainability initiatives.