The MOL Group announces that, as of October 31, 2019, it has acquired 100% of the shares of Aurora, a German plastic composite company. As a result of this acquisition, the MOL Group consolidates its position in the segment of sustainable recycled composites and as a supplier to the automotive industry.

With the acquisition of Aurora, MOL Group expands its product portfolio thanks to Aurora’s expertise in the engineering of plastics and recycled polypropylene materials.

Aurora, with production facilities located near car factories and plastic conversion clusters in Baden-Württemberg, Germany, has a unique closed-loop business model. Aurora collects industrial plastic waste, recycles it and then refines the material properties into an improved plastic that meets the needs of customers in the auto manufacturing industry.

“Aurora recycling products greatly complement our current product line, underlining our growing efforts for sustainable development. As we want to strengthen the presence of the MOL Group as a supplier to the automotive industry, we realize that composite material manufacturing is a key activity that we want to integrate into our business portfolio,” said Ferenc Horváth, Executive Vice President of MOL Group, responsible for the Downstream segment.