LyondellBasell Acquires 50% Share in Dutch Recycling Company
Summary
The company operates a facility located in Montfort, the Netherlands, with an annual processing capacity equivalent to the amount of plastic packaging waste generated by over 500,000 Dutch citizens per year. "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," says Yvonne van der Laan, LyondellBasell Executive Vice President, Circular and Low Carbon Solutions. 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".Stiphout was founded in 2015 and has over time built up experience in the processing of plastic household waste into clean flakes of recycled polypropylene (PP) and high-density polyethylene (HDPE) materials, establishing itself as an innovative player in the Netherlands. As one of the worlds largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. These forward-looking statements are based upon assumptions of management of LyondellBasell which are believed to be reasonable at the time made and are subject to significant risks and uncertainties.