Plastics, chemicals and refining firm LyondellBasell and Suez, a provider of resource management solutions, have completed the acquisition of Dutch plastics recycling company Quality Circular Polymers (QCP).
Based in Sittard-Geelen, Netherlands, QCP uses a plant that transforms used plastic material into virgin-replacement quality polyethylene (PE) and Polypropylene (PP) materials.
The plant is designed to convert consumer waste into 25,000 tonnes of polypropylene (PP) and high-density polyethylene (HDPE).
The plant is expected to produce 35,000 tonnes later this year and 100,000 tonnes by 2020.
LyondellBasell CEO Bob Patel said: “Partnering with Suez allows us to contribute to the circular economy in a way that no plastics company has before.
“For several years, we have seen increased demand for recycled and reused plastics, especially in Europe.
“With QCP, we have combined our respective expertise with Suez to create an innovative system that can be scaled as the circular economy grows.”
The joint businesses will use Suez’s technology solutions to improve the identification, separation and preparation of materials to be used as feedstock.
In order to meet growing customer demand, the company will also add recycled products from the plant to its product offering.
“The circular economy will increasingly develop into a critical part of the plastic value chain. Moving forward, we will bear in mind the economics of operating our businesses must be balanced with environmental awareness,” said Suez CEO Jean-Louis Chaussade.
“As we move towards becoming value players in the circular economy, we will continue to seek opportunities for future growth.”