ROTTERDAM, Netherlands, July 19,
2023 /CNW/ -- 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