NEWS
Sirmax keeps up the pace with strong results
Technical compounder Sirmax Group will continue to invest in an expansion programme, it said as it revealed revenues had reached €215m in the first half of 2024, up from €200m in H1 2023, driven by a 10% increase in sales volumes. “These strong results are the outcome of four years of investments totalling €180m, which include doubling capacity in the US and Poland, a 10% increase in European production capacity, and acquisitions in the recycled plastics (SER, now Sirmax New Life) and bio sectors (Microtec, now Sirmax),” the group said. Looking ahead, Sirmax’s 2025-27 industrial plan includes €30m in new invest- ments. It said it will continue its international expansion, including the group’s 14th production plant in Hosur, India which is planned for completion by 2026, and further investments at its facility in Anderson, US. Sirmax celebrated its
Sirmax developed materials used to make the recycled plastic components of Technogym’s new generation of Excite fitness equipment
LYB closes loop in Germany
LyondellBasell (LYB) is investing in a new closed- loop preparation centre in Lich, Germany, which supports the company’s integrated hub strategy and brings together existing assets with new advanced sorting and recycling capabilities. The facility is expected
60th anniversary with an event at its headquarters in Cittadella, Padua, Italy in September. President and CEO Massimo Pavin said to assembled guests: “The history of Sirmax is a story of unexpected opportunities and the unique qualities of the people involved. But it is also a story of keen market awareness and the courage to invest. Sirmax would not have reached its current achievements without entrepreneurial tenacity and a cohesive team capable of executing ideas and business strategies.”
He said the group’s
strength lies in both product and geographic diversification. As an example, he said that while the appliance sector has remained flat, Sirmax has increased production volumes by gaining market share with circular products. Another advantage is having localised value chains, with short supply lines directly in the regions where it operates, he said. Sirmax employs 850
people, and had turnover of €410m in 2023. �
https://sirmax.com
to reach commercial scale in the fourth quarter of 2024. LYB said the invest- ment aligns with the company’s goal to produce at least 2m tpa of recycled and renewable-based poly- mers annually by 2030. The recycling centre is using mechanical recycling technology to transform end-of-life automotive and appliance plastics, such as bumpers and trim, into high-quality recycled materials. These recycled materials will be incorpo- rated into the LYB Circulen- Recover product range, targeted at demanding applications. �
www.lyondellbasell.com
Sabo forms subsidiary in North America
Italian additives group Sabo has launched Sabo International Americas, a new subsidiary based in Orlando, Florida, US, to better serve down- stream companies in North America such as masterbatch/compound manufacturers and plastic converters. The move follows on from acquisi-
tion of the TAA (triacetonamine) and TAA derivatives business and assets from Evonik last year. TAA derivatives are used as precursors for production
www.compoundingworld.com
of HALS light stabilisers. Germano Peverelli, CEO and Chairman of Sabo, said: “After more than 15 years of steady growth for Sabo, a new development phase has arrived and lays the basis for the new global expansion targets and the consolidation of business relationships that focus on fast and effective techni- cal and commercial service”. The US subsidiary joins the other three locations in Europe and Asia,
which the company says will strengthen its global presence. The US subsidiary offers a complete
range of HALS additives as well as high-performance antifog and anti- static additives, including USDA-certi- fied BioPreferred grades. Songwon, the long-standing partner
of Sabo, will continue to distribute HALS to North American polymer manufacturers. �
https://sabo.com
October 2024 | COMPOUNDING WORLD 5
IMAGE: TECHNOGYM/SIRMAX
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