ReMat recycles communal and industrial waste to make plastic granules, used in the automotive and packaging industries.
MOL is working to build a strong portfolio in plastics recycling and integrated waste management in line with its strategic goal to become a leader in the low-carbon circular economy in the CEE region, it said in a statement.
Including Germany's Aurora Kunststoffe, which it acquired earlier, MOL's plastics recycling capacity will increase to 40,000 tonnes a year.
ReMat has a recycling capacity of 25,000 tonnes and a headcount of close to 200. MOL noted that it had signed strategic partnership agreements with German recycling technology company APK and Swiss peer Meraxis. ReMat had a revenue of HUF 3.5 billion in 2020, according to public records. Exports accounted for about 20% of the total.
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