LyondellBasell Acquires Stake in De Paauw Sustainable Resources

Rhea-AI Summary

LyondellBasell acquires 50% stake in Dutch plastic waste recycling company, DPSR

Positive

• LyondellBasell aims to increase access to plastic waste feedstock through the acquisition of DPSR
• Demand for recycled plastics is growing, creating opportunities for LyondellBasell's CirculenRecover products
• DPSR has a strong network of plastics waste sources and is a leading recycler in the Benelux region

Negative

• None.

ROTTERDAM, NETHERLANDS / ACCESSWIRE / October 20, 2023 / LyondellBasell announced it has acquired a 50% stake in Rodepa Vastgoed B.V., the holding company of De Paauw Sustainable Resources ("DPSR"). The Dutch plastic waste recycling company is involved in the sourcing, processing and trading of post-consumer and post-industrial plastic packaging waste. DPSR operates production facilities located in Hengelo and Enschede, the Netherlands, with an annual processing capacity equivalent to the amount of plastic packaging waste generated by over 1.7 million Dutch citizens per year.

"Investing in DPSR aligns with our strategy to increase our access to plastic waste feedstock, which supports our integrated hub strategy that allows us to build scale and expand our production and offering of CirculenRecover products," says Yvonne van der Laan, LyondellBasell executive vice president, Circular and Low Carbon Solutions. "Demand for recycled plastics continues to grow as consumers and brand owners ask for sustainable materials. Through this collaboration, we can further expand our CirculenRecover portfolio of mechanically recycled polymers, creating solutions for our customers".

DPSR was founded in 1956 and has over time built up an extensive network of plastics waste sources. DPSR has grown into a leading recycler in the Benelux region, processing plastic waste into recycled polypropylene (PP) and low-density polyethylene (LDPE) materials.

"With a great team of driven employees, we have steadily built our business over the years by responsibly and carefully finding new use for used plastics," says Roy de Paauw, CEO of DPSR. "I greatly appreciate the cooperation we had with ING CI. I am proud that LyondellBasell is participating in our company and that we are now joining forces to recycle even more plastic waste into high-quality raw material."

LyondellBasell acquired its 50% share from DPSR CEO Roy de Paauw and ING Corporate Investments, the investment branch of the Dutch multinational banking and financial services corporation ING Group.

"Our investment in DPSR always fitted perfectly in the sustainable ambitions of ING and over the past years ING Corporate Investments has been able to work together with DPSR's management team in further professionalizing the organization, expanding its production platform and preparing the company to realize future sustainable growth. We are extremely glad to see DPSR has found a sound new strategic partner in LyondellBasell for entering its next growth phase after all that has been achieved so far," says Mathijs Henzen, Investment Director at ING Corporate Investments.

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Media Inquiries:
LyondellBasell
Andreas Anker, Senior Manager, Corporate Communications
Email: andreas.anker@lyb.com
Tel. : +49 2236 72 1595

De Paauw Sustainable Resources
Roy de Paauw, CEO
Email: r.depaauw@dpsr.com
Phone: +31 88 337 22 00

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 DPSR
At DPSR, we see used plastics as a source for new applications and products. A source of inspiration or a source for developing sustainable raw materials. We, DPSR, are a proud producer of that sustainable raw material, but more than that we are also a source of knowledge, product development and partner in sustainable cooperation. This was not born out of idealism; we are a company that wants to make a profit. We are proud of the commercial spirit that was the basis of our business. As we are also proud of the development we have gone through which shows that respectful, successful and sustainable go together very well.

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.

View additional multimedia and more ESG storytelling from LyondellBasell on 3blmedia.com.

Contact Info:
Spokesperson: LyondellBasell
Website: https://www.3blmedia.com/profiles/lyondellbasell
Email: info@3blmedia.com

SOURCE: LyondellBasell

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https://www.accesswire.com/795010/lyondellbasell-acquires-stake-in-de-paauw-sustainable-resources

FAQ

What company did LyondellBasell acquire a stake in?

LyondellBasell acquired a 50% stake in Rodepa Vastgoed B.V., the holding company of De Paauw Sustainable Resources (DPSR).

What does DPSR do?

DPSR is a Dutch plastic waste recycling company involved in the sourcing, processing, and trading of post-consumer and post-industrial plastic packaging waste.

What is the annual processing capacity of DPSR?

DPSR has an annual processing capacity equivalent to the amount of plastic packaging waste generated by over 1.7 million Dutch citizens per year.

What is LyondellBasell's strategy behind investing in DPSR?

LyondellBasell aims to increase its access to plastic waste feedstock to support its integrated hub strategy and expand its production and offering of CirculenRecover products.

What are CirculenRecover products?

CirculenRecover products are mechanically recycled polymers offered by LyondellBasell.

What are the growth opportunities for LyondellBasell in the recycled plastics market?

The demand for recycled plastics is growing as consumers and brand owners seek sustainable materials, creating opportunities for LyondellBasell's CirculenRecover products.