LyondellBasell, one of the world’s largest plastics, chemical and refining companies has acquired 50 percent stake in Quality Circular Polymers (QCP), a high standard plastics recycling company based in Sittard-Geleen, Netherlands. LyondellBasell will be a 50 / 50 partner in QCP with SUEZ, a French company specialized in water and waste management. The acquisition is important as a major plastics and chemicals company partners with a leader in resource management to contribute to circular economy objectives for the first time. On regulatory approval of the acquisition, expected to be received by the end of this year, LyondellBasell will market QCP materials.
QCP, founded in 2014, has its Sittard-Geleen facility located near Maastricht. The facility is expected to start operations in 2018 with a capacity to convert consumer waste into 35,000 tons of polypropylene (PP) and high-density polyethylene (HDPE) per year.
Bob Patel, CEO, LyondellBasell and Jean-Louis Chaussade, CEO, SUEZ, said in a joint statement, “As the circular economy increases in prominence and importance, we believe that demand for recycled materials will continue to grow. 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.”
LyondellBasell produces materials and products that offer advancing solutions to enhance food safety through lightweight and flexible packaging.
SUEZ is a world leader in smart and sustainable resource management with foot prints on five continents.
Quality Circular Polymers (QCP) manufactures polymers of high and consistent quality based on used plastics. Reliable supply, integration, leading technologies and innovative recipes helps QCP to push the circular plastics industry to the next level.