LyondellBasell Buys 50% Stake in Dutch Recycling Firm
LyondellBasell Industries N.V.
LyondellBasell announced it has acquired a 50% stake in Stiphout Industries B.V. (Stiphout). Stiphout is involved in the sourcing and processing of post-consumer plastic packaging waste.
The company operates a facility located in Montfort, the Netherlands, with an annual processing capacity equivalent to the amount of plastic packaging waste generated by over 500,000 Dutch citizens per year.
"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," says Yvonne van der Laan, LyondellBasell Executive Vice President, Circular and Low Carbon Solutions. "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".
Stiphout was founded in 2015 and has over time built up experience in the processing of plastic household waste into clean flakes of recycled polypropylene (PP) and high-density polyethylene (HDPE) materials, establishing itself as an innovative player in the Netherlands.
"Partnering with an experienced polymer producer will provide possibilities to further step-up commercial and operational excellence of our operations," says Eline Stiphout, founder and CEO of the Stiphout group. "We are excited to team up with LyondellBasell since we share that circularity is critical to helping end plastic waste".
Source: PRNewswire
