LyondellBasell announced 19 July that it had acquired a 50% stake in Stiphout Industries B.V., a Montfort, Netherlands-based company active in the sourcing and processing of post-consumer plastic packaging waste.
Founded in 2013 by Eline Stiphout, the company today operates a facility that can process an amount of plastic packaging waste equal to the amount generated by over 500,000 Dutch citizens per year. The company specialises in recycling Dutch household waste into clean PP and HDPE flakes, and has successfully established itself as an innovative player in the Netherlands.
"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," said Yvonne van der Laan, LyondellBasell Executive Vice President, Circular and Low Carbon Solutions.
These existing assets include its Quality Circular Polymers BV recycling facilities, with locations in Belgium and the Netherlands. In April, LyondellBasell and Veolia announced a restructuring of their QCP recycling joint venture, which resulted in LyondellBasell becoming 100% owner of QCP.
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.
Th acquisition of the interest in Stiphout will enable LyondellBasell to leverage local synergies with the QCP business in terms of logistics and operations, said Van der Laan. “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".