Chemical giant LyondellBasell announced on Wednesday that it has acquired a 50% stake in Stiphout Industries, a renowned recycler of household plastic waste located in Montfort, The Netherlands.
A sustainable solution for plastic waste
Stiphout Industries specializes in recycling waste into polypropylene and high-density polyethylene plastic flakes. This amount is equivalent to the waste generated by approximately 500,000 Dutch citizens each year. Although the financial details of the acquisition have not been disclosed, the focus remains on creating an efficient and eco-friendly solution to address the mounting plastic waste crisis.
Investing in a greener future
Yvonne van der Laan, LyondellBasell’s Executive VP for Circular and Low Carbon Solutions, expressed her enthusiasm for the investment, stating that it aligns perfectly with the company’s strategy to invest in recycling and plastic waste processing companies. This move is aimed at supporting their existing assets in the Netherlands and Germany and is in line with LyondellBasell’s integrated hub model.
LyondellBasell is actively working towards its sustainability goals. By 2030, the company hopes to produce a minimum of 2 million metric tons per year of recycled and renewable-based polymers. This will significantly contribute to reducing environmental impact and fostering a more circular economy.
A leader in the industry
LyondellBasell is known for its extensive range of products, including ethylene, propylene, propylene oxide, ethylene oxide, tertiary butyl alcohol, methanol, acetic acid, and their derivatives. Additionally, they produce polypropylene, polypropylene compounds, and polyethylene. Their operations encompass a substantial 268,000 b/d refinery located at the Houston Ship Channel.
– Reporting by Xavier A. Cronin
-* Editing: Michael Kelly