A Bold Move in Plastic Recycling
TotalEnergies, an industry leader in energy production, has expanded its plastic recycling activities in Europe by acquiring IberResinas, a prominent actor in mechanical plastic recycling. Besides, the acquisition is expected to bolster TotalEnergies’ production of circular polymers in Europe and enhance its access to feedstock1.
Strengthening the Recycling Chain
Based in Spain, Iber Resinas specializes in recycling polypropylene, polyethylene, and polystyrene from household and industrial waste. The company’s two plants near Valencia, Spain, also handle these processes. Iber Resinas also boasts a large network of direct customers who use recycled products to manufacture automotive parts, packaging, and building materials2.
Enhancing TotalEnergies’ Operations
Firstly, incorporating Iber Resinas into TotalEnergies’ operations will deliver significant synergies. Moreover, by combining the recycling know-how of Iber Resinas with the polymers expertise of TotalEnergies, the companies expect to develop quality products and accelerate growth. Secondly, this acquisition represents a significant step towards TotalEnergies’ ambition to increase the share of circular polymers in their plastic production to 30% by 20303.
A Win-Win for Both Companies
The co-owners and managing directors of Iber Resinas, Santiago Sanz, and Borja Sanz expressed great satisfaction with this strategic move. They view joining TotalEnergies as a significant opportunity to further strengthen and develop Iber Resinas. This partnership will enable both companies to build upon their work and knowledge in the polymer recycling sector, not just in Spain but across the European Union, to meet their customers’ growing challenges and ambitions 4.
In conclusion, the acquisition of Iber Resinas by TotalEnergies marks a major leap in European plastic recycling activities. As the world grapples with the issue of plastic waste, such strategic partnerships will play a crucial role in promoting a circular economy and achieving sustainability goals. TotalEnergies acquires IberResinas for Plastic Recycling.
Link of interest: TotalEnergies Secures Approval for 3 GW Solar Projects in Spain: A Step Towards a Greener Future