PARIS, FRANCE: TotalEnergies, a French multinational energy company, has acquired Iber Resinas, a Spain-based company that specializes in the mechanical recycling of plastics for sustainable applications.
The move is expected to increase TotalEnergies’ production of circular polymers in Europe, broaden its range of recycled products, and improve its access to feedstock through Iber Resinas’ network of suppliers.
Iber Resinas recycles plastics such as polypropylene, polyethylene, and polystyrene from household and industrial waste in its two plants near Valencia, Spain. The company also has a broad network of direct customers to whom it sells its products for the manufacture of automotive parts, packaging, or building materials.
With the acquisition, TotalEnergies aims to combine Iber Resinas’ recycling know-how with its polymers expertise to create high-quality recycled products and accelerate its growth. TotalEnergies is committed to promoting the circular economy in the use of plastics and is working on all types of recycling, including mechanical recycling, advanced recycling, and bioplastics.
“This acquisition is a further step towards achieving our ambition of increasing the share of circular polymers in our plastics production to 30% by 2030,” said Nathalie Brunelle, Senior Vice President Polymers, Refining & Chemicals, at TotalEnergies.
The company’s subsidiary, Synova, is the French leader in the production of recycled polypropylene for sustainable applications for the automotive and construction industry. TotalEnergies also announced in 2022 the construction of a new hybrid production line of high-performance recycled polypropylene for automotive applications.
Moreover, TotalEnergies is a founding member of the Alliance to End Plastic Waste, which brings together around ninety companies, project partners, and supporters committed to implementing solutions to eliminate plastic waste in the environment, particularly in the oceans.
TotalEnergies agrees to sell its Canadian assets to Suncor Energy for approximately $4.1 billion
JD Sports Fashion to acquire Groupe Courir S.A.S for an enterprise value of €520 million