BREAKING NEWS

BREAKING NEWS

Energy group Total buys French plastics recycling firm Synova

Energy group Total buys French plastics recycling firm Synova
FILE PHOTO: The logo of French oil giant Total is pictured at a petrol station in Latresne near Bordeaux, France, November 19, 2018. REUTERS/Regis Duvignau/File Photo -
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PARIS (Reuters) - French energy major Total said it had acquired unlisted plastics recycling company Synova for an undisclosed amount, in a move that expands Total's plastics recycling business and helps to curb plastics waste.

Synova produces around 20,000 tonnes of high-grade polypropylene from recycled plastics for car manufacturers.

Total said combining Synova's recycling know-how with its expertise in polymers, used in making plastics and other objects, will increase the supply of recycled polypropylene for the auto industry.

(Reporting by Bate Felix; Editing by Sudip Kar-Gupta)

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