- Borealis closes deal to acquire Rialti S.p.A., an Italian polypropylene (PP) compounder of recyclates
- The acquisition will enhance Borealis’ portfolio of PP compounds based on mechanical recyclates by 50,000 tons per year
November, 2, 2023 - On June 30, 2023 Borealis announced that it had signed an agreement to acquire Rialti S.p.A., a polypropylene (PP) compounder of recyclates based in the Varese area of Italy, subject to regulatory approvals. Today, the parties announced the successful closing of the transaction.
Rialti is one of the European market leaders specialized in production of sustainable polypropylene (PP) compounds with a focus on mechanically recycled PP feedstock from post-industrial and post-consumer waste. Based in the area of Varese, Italy, Rialti has over thirty years of experience. The company utilizes its annual capacity of 50,000 tons to make injection moulding and extrusion PP compounds with applications in different industries, including automotive, appliances and construction.
The acquisition will bring significant expertise and capacity to Borealis, expanding its PP compounding business and, in particular, increasing its volume of PP compounds based on mechanical recyclates. The improved capacity will strengthen Borealis’ speciality and circular portfolios, enabling the company to meet customer demand for an ever-wider range of sustainable, high-performance solutions, the company claims. The move also represents a proof point of Borealis’ EverMinds commitment to accelerate the transition to a circular economy.
“Mechanical recycling is a key component of our integrated circular cascade model, which is a cornerstone of our future-positive transformation and path to net zero. The acquisition of Rialti provides a vital expansion of our recyclate-based PP compound capacity, and marks another critical step on our path to reinventing essentials for sustainable living,” says Lucrèce Foufopoulos, Borealis Executive Vice President Polyolefins, Circularity and Innovation & Technology.
“Borealis is at the forefront of our industry’s mission to advance plastics circularity. With the closing of this transaction, I am pleased to see Rialti’s capacity and expertise contributing to this endeavour. I am convinced that Borealis and Rialti now look forward to a shared future of growth and innovation, ultimately enabling them to provide their customers with an even wider range of advanced PP compound solutions,” comments Massimo Dal Toso, CEO of Rialti.
Borealis is one of the world’s leading providers of sustainable polyolefin solutions. In Europe, Borealis is also an innovative leader in polyolefins recycling and a major producer of base chemicals. With operations in over 120 countries and head offices in Vienna, Austria, Borealis employs around 6,000 people. In 2022, the company generated a net profit of EUR 2.1 billion. OMV, the Austria-based international energy, fuels & feedstock and chemicals & materials company, owns 75% of Borealis' shares. The Abu Dhabi National Oil Company (ADNOC), based in the United Arab Emirates (UAE), owns the remaining 25%.