Borealis has successfully completed the acquisition of Rialti, a producer of recycled polypropylene compounds. This strategic move is expected to significantly expand Borealis' portfolio of polypropylene (PP) compounds that are based on mechanical recyclates. The annual production capacity of Rialti, which specializes in polypropylene compounds derived from mechanically recycled PP feedstock sourced from post-industrial and post-consumer waste, is 50,000 tons. Rialti's product range includes injection molding and extrusion PP compounds designed for various industries such as automotive, appliances, and construction.

The agreement to acquire Rialti was signed in June, and Borealis anticipates that this acquisition will result in a considerable increase in its PP compounding business. This boost in capacity is expected to lead to the production of a greater volume of compounds based on mechanical recyclates, aligning with Borealis' commitment to sustainability and its efforts to support a circular economy. By expanding its capacity in this manner, Borealis aims to offer a broader range of environmentally conscious, high-performance solutions to meet the demands of its customers and contribute to the goal of achieving a circular economy.

Lucrèce Foufopoulos, who holds the position of Borealis Executive Vice President of Polyolefins, Circularity, and Innovation & Technology, underscored the importance of mechanical recycling within Borealis' circular cascade model. She explained that this model forms a fundamental part of Borealis' forward-looking transformation and its journey toward achieving net-zero emissions. Foufopoulos mentioned that the acquisition of Rialti represented a crucial expansion of their recyclate-based PP compound capacity and marked another significant step on their path to reimagining essentials for sustainable living.

Massimo Dal Toso, serving as the CEO of Rialti, expressed his contentment with the transaction and recognized Borealis' leading role in advancing plastics circularity. He conveyed his pleasure at the completion of the transaction, emphasizing how Rialti's capacity and expertise now contribute to this collective endeavor. Dal Toso conveyed his conviction that Borealis and Rialti are eagerly anticipating a shared future characterized by growth and innovation. He added that this partnership would ultimately enable them to offer their customers an even broader spectrum of advanced PP compound solutions.

In another significant business development, LyondellBasell has acquired a 25% equity ownership in Cyclyx International, a joint venture between Agilyx and ExxonMobil. This partnership is expected to play a pivotal role in enhancing recycling efforts and fostering a circular economy for plastics in the United States.

Additionally, Bormioli Luigi has absorbed Bormioli Rocco as part of its strategy to accelerate growth and advancement in the glass sector. This move is indicative of the company's commitment to expanding its presence and influence in the glass industry.