The Netherlands – Leading plastics, chemical and refining firm LyondellBasell announced it is purchasing a 50% stake in plastics recycling company Quality Circular Polymers, based in the Netherlands. The business deal outlines that LyondellBasell will be 50-50 partners in the Dutch enterprise together with French waste management specialist Suez. Quality Circular Polymers is capable of processing 35 000 tons of polypropylene and high-density polyethylene per year. The recycling facility, located in the Dutch municipality of Sittard-Geleen, was founded in 2014.
‘This acquisition combines LyondellBasell’s European market presence and technical capabilities with Suez’s ability to collect and recover waste into new materials. We believe that this new venture will provide a strategic platform for future sustainable growth,’ according to LyondellBasell ceo Bob Patel and SUEZ ceo Jean-Louis Chaussade.
Texas-based LyondellBasell stresses that this deal marks ‘the first time’ that a major plastics and chemicals company joins forces with an experts in resource management to contribute to circular economy objectives.
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