LyondellBasell Acquires 50% Share in Dutch Recycling Company

Rhea-AI Summary

LyondellBasell (LYB) acquires 50% stake in Stiphout Industries B.V., a company specializing in post-consumer plastic packaging waste sourcing and processing. This strategic investment aligns with LYB's recycling and plastic waste processing strategy, aiming to leverage local synergies and expand their CirculenRecover portfolio.

Positive

• Strategic investment in recycling and plastic waste processing aligns with LYB's existing assets in the Netherlands and Germany
• Partnership with Stiphout Industries B.V. unlocks possibilities to expand CirculenRecover portfolio, supporting circular and low-carbon targets for customers and brand owners

Negative

• No specific financial figures or percentages provided to assess the impact of the acquisition on LYB's operations and revenue

ROTTERDAM, Netherlands, July 19, 2023 /PRNewswire/ -- LyondellBasell today announced it has acquired a 50% stake in Stiphout Industries B.V. ("Stiphout"). Stiphout is involved in the sourcing and processing of post-consumer plastic packaging waste. 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. "Through this collaboration, we can leverage local synergies with our Quality Circular Polymers business in terms of logistics and operations. 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.

"Partnering with an experienced polymer producer will provide possibilities to further step-up commercial and operational excellence of our operations ," says Eline Stiphout, founder and CEO of the Stiphout group. "We are excited to team up with LyondellBasell since we share that circularity is critical to helping end plastic waste".

About LyondellBasell
We are LyondellBasell (NYSE: LYB) – a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors and society. As one of the world's 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. For more information, please visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.

About Stiphout Industries
Stiphout Industries was founded by Eline Stiphout in 2015 with the aim of recycling post-consumer waste into high quality flakes. The company expanded quickly, and soon became a specialist in recycling Dutch household waste.

It developed its own processing lines and has positioned itself as a sustainable, innovative recycler. Stiphout is proud to contribute to a more circular use of plastics.

FORWARD-LOOKING STATEMENTS
The statements in this release relating to matters that are not historical facts are forward-looking statements. 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. Actual results could differ materially based on factors including, but not limited to, our ability to meet our sustainability goals, including the ability to increase production of recycled and renewable-based polymers; the successful implementation of growth plans; and the successful operation of the facilities described in this release. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the "Risk Factors" section of our Form 10-K for the year ended December 31, 2022, which can be found at www.LyondellBasell.com on the Investor Relations page and on the Securities and Exchange Commission's website at www.sec.gov.

 

 

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SOURCE LyondellBasell Industries

FAQ

What is the strategic investment announced by LyondellBasell (LYB)?

LYB has acquired a 50% stake in Stiphout Industries B.V., a company specializing in post-consumer plastic packaging waste sourcing and processing.

How does the investment align with LYB's strategy?

The investment aligns with LYB's strategy to invest in recycling and plastic waste processing companies that support their existing assets in the Netherlands and Germany, and fits with their integrated hub model.

What are the potential benefits of the partnership with Stiphout Industries B.V. for LYB?

The partnership unlocks possibilities to expand LYB's CirculenRecover portfolio, creating solutions for customers and brand owners in support of their circular and low-carbon targets.