LyondellBasell has entered into a definitive agreement to purchase a 50-percent stake in Quality Circular Polymers (QCP), a high-standard plastics recycling company in Sittard-Geleen, Netherlands. Under the terms of the agreement, LyondellBasell will be a 50/50 partner in QCP with SUEZ.
This transaction marks the first time a major plastics and chemicals company partners with a leader in resource management to contribute to circular economy objectives.
“As the circular economy increases in prominence and importance, we believe that demand for recycled materials will continue to grow,” LyondellBasell CEO Bob Patel and SUEZ CEO Jean-Louis Chaussade said in a joint statement. “This acquisition combines LyondellBasell’s European market presence and technical capabilities with SUEZ’s ability to collect and recover waste into new materials.”
For more information, visit www.Lyondellbasell.com or call (713) 309-7575.