ROTTERDAM, Netherlands — LyondellBasell and Veolia Belgium have signed an agreement to restructure the ownership of Quality Circular Polymers (QCP) BV recycling facilities, with locations in Belgium and the Netherlands.

Veolia will sell its 50% share to LyondellBasell, which will become 100% owner of QCP. With full ownership of QCP, LyondellBasell is progressing its strategy to build a profitable circular and low carbon solutions business to meet customer demand for more sustainable products and solutions. LyondellBasell is well positioned to continue working with its customers to supply the products and solutions needed to meet their goals.

“The demand for circular solutions continues to grow, and LyondellBasell is committed to creating solutions for everyday sustainable living,” said Yvonne van der Laan, executive VP, Circular & Low Carbon Solutions of LyondellBasell. “Full ownership of QCP supports our goal to produce and market at least 2 million mt of recycled and renewable-based polymers. We thank Veolia for their collaboration over the past five years and look forward to continuing to work with them as a feedstock supplier.”