AMSTERDAM (dpa-AFX) - LyondellBasell Industries N.V. (LYB), a chemical firm, said on Wednesday that it has acquired a 50 percent stake in Stiphout Industries B.V., a company focused on sourcing and processing of post-consumer plastic packaging waste.
Yvonne van der Laan, LyondellBasell Executive Vice President, Circular and Low Carbon Solutions, said: '.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'.
In addition, the company noted that Stiphout aligns with its strategy to invest in recycling and plastic waste processing companies that support its existing assets in the Netherlands and Germany.
Founded in 2015, Stiphout operates a facility located in Montfort, the Netherlands, with an annual processing capacity equivalent to the amount of plastic packaging waste generated by over a half million Dutch citizens per year.
Stiphout is an expert in processing plastic household waste into clean flakes of recycled polypropylene and high-density polyethylene materials.
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