TotalEnergies acquired Iber Resinas, a Spain-based company specialized in the mechanical recycling of plastics for sustainable applications.

This acquisition will increase TotalEnergies’ production of circular polymers in Europe, extend its range of recycled products, and enhance its access to feedstock through Iber Resinas’s network of suppliers.

Iber Resinas will take advantage of operational synergies with TotalEnergies to create high-quality goods and profit from the company’s capacity to quicken expansion.

“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. “We are pleased to welcome Iber Resinas’ teams and combine their recycling know-how with TotalEnergies’ polymers expertise.”

“Joining TotalEnergies is a great satisfaction, but also an opportunity to strengthen and develop Iber Resinas. It will allow us to jointly build on our work, knowledge, and development in Spain and the EU in the polymer recycling sector, and meet the new challenges and ambitions of our customers,” said Santiago Sanz and Borja Sanz, owners and managing directors of Iber Resinas.