LyondellBasell, one of the world’s largest plastics, chemical and refining companies, today announced it has entered into a definitive agreement to purchase a 50 percent stake in Quality Circular Polymers (QCP), a high standard plastics recycling company in Sittard-Geleen, Netherlands.
Under the terms of the agreement, LyondellBasell will be a 50 / 50 partner in QCP with SUEZ, a French company specialized in water and waste management.
This transaction marks the first time that a major plastics and chemicals company partners with a leader in resource management to contribute to circular economy objectives.
“As the circular economy increases in prominence and importance, we believe that demand for recycled materials will continue to grow,” LyondellBasell CEO Bob Patel and SUEZ CEO Jean-Louis Chaussade said in a joint statement. “This acquisition combines LyondellBasell’s European market presence and technical capabilities with SUEZ’s ability to collect and recover waste into new materials. We believe that this new venture will provide a strategic platform for future sustainable growth.”
QCP was founded in 2014. Its Sittard-Geleen facility, near Maastricht, is capable of converting consumer waste into 35,000 tons of polypropylene (PP) and high-density polyethylene (HDPE) per year starting in 2018.
LyondellBasell will market QCP materials following the completion of the transaction, which is subject to regulatory approval. LyondellBasell and SUEZ are seeking to secure regulatory approval by the end of this year.
Source: LyondellBasell
Craig Arnold is currently the Chief Commercial Officer at Ferroglobe PLC in Madrid, Spain. Prior to this appointment, he had a long-standing career at Dow Inc., where he held various senior management roles, including an Executive Secondment (from Dow Inc.) and Advisor to the CEO at the Alliance to End Plastic Waste (AEPW) in Singapore.
The transaction marks Ineos’ entrance into the US EO market. It is the second-largest EO maker in Europe, trailing BASF SE. The deal is expected to close in the second quarter of 2024 following completion of planned maintenance at the Bayport site, the companies said.
Röhm GmbH has named Hans Bohnen as CEO of Röhm GmbH replacing Michael Pack, effective Feb. 1, 2024. Pack will retire from the company, effective March 1, 2024. Bohnen joins from HyCC where he served as group CEO. Prior to that, he served 13 years with Clariant AG.