LyondellBasell and Suez Start Plastics Recycling Joint Venture
LyondellBasell, one of the largest plastics, chemicals and refining companies in the world, and Suez, a global leader in smart, sustainable resource management, announce the successful completion of a transaction making each company a 50/50 partner in Quality Circular Polymers (QCP), a premium plastics recycling company in Sittard-Geleen, the Netherlands.
The joint business will leverage the two partners' strengths. Suez will utilize its technology solutions to improve the identification, separation and preparation of materials to be used as feedstock at QCP. LyondellBasell will apply its innovative plastic production technology, experience in product development and knowledge of important end markets such as consumer goods, where the company has a strong presence.
The QCP plant located in Sittard-Geleen will transform used plastic material into virgin-replacement quality PE and PP materials. The plant is capable of converting consumer waste into 25,000 tons of polypropylene (PP) and high-density polyethylene (HDPE) with an objective of 35,000 tons later in 2018 and 100,000 tons by 2020. The production capacity of the plant will address a growing need for improving the sustainability profile of high-quality plastics in Europe. LyondellBasell will add QCP's recycled products to its range of existing PE and PP materials to help meet increasing customer demand and in line with the EU's Plastics Strategy.
"Partnering with Suez allows us to contribute to the circular economy in a way that no plastics company has before," said LyondellBasell CEO Bob Patel. "For several years, we have seen increased demand for recycled and reused plastics, especially in Europe. With QCP, we have combined our respective expertise with SUEZ to create an innovative system that can be scaled as the circular economy grows."
LyondellBasell Industries Headquarters Europe, Asia
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