NETHERLANDS – Chemical industry company LyondellBasell has acquired a 50% stake in recycling company Stiphout Industries, which sources and processes post-consumer plastic packaging waste.
Founded in 2013, Stiphout operates a facility that has an annual processing capacity equivalent that is reportedly equivalent to the amount of plastic packaging waste generated by over 500,000 Dutch citizens every year.
Operating in Montfort, the company specializes in recycling Dutch household waste into clean PP and HDPE flakes and has successfully established itself as an innovative player in the Netherlands.
LyondellBasell executive vice president of circular and low carbon solutions Yvonne van der Laan said: “Investing in Stiphout aligns with our strategy to invest in recycling and plastic waste processing companies that support our existing assets in the Netherlands and Germany and fits with our integrated hub model.
“Through this collaboration, we can leverage local synergies with our quality circular polymers business in terms of logistics and operations.
“It also unlocks possibilities to further expand our CirculenRecover portfolio, creating solutions for customers and brand owners in support of their circular and low-carbon targets.”
LyondellBasell recently agreed to acquire the remaining stake in Quality Circular Polymers (QCP), its plastic recycling joint venture (JV) with Veolia Belgium.
The acquisition is in line with LyondellBasell’s strategy to create a profitable circular and low-carbon solutions business, to meet the rising demand for sustainable products and solutions.
The QCP mechanical recycling facilities produce special blends, using household plastic waste.
QCP’s recycled materials are used to make items such as bottles, buckets, caps and closures as well as strollers and suitcases.
LyondellBasell currently markets these QCP polymers under its CirculenRecover brand, with QCP as its growth platform to enable circular solutions.
Meanwhile, in March this year, the company agreed to acquire Mepol Group, a producer of recycled, high-performing technical compounds, for an undisclosed sum.
The acquisition consists of Mepol S.r.l. and its subsidiaries Polar S.r.l. and Industrial Technology Investments Poland Sp.z.o.o.
The transaction closing is subject to regulatory approval and other customary closing conditions. During this period, Mepol Group will continue to operate on a standalone basis.
At the time, Torkel Rhenman, executive vice president of Advanced Polymer Solutions, said: “This acquisition demonstrates LyondellBasell’s commitment to move the circular economy forward.”
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