LyondellBasell completed the acquisition of half of the shares of Stiphout

LyondellBasell, a leading chemical industry, has acquired 50 percent of Stiphout Industries' stake. Investing in Stiphout aligns with the vision of LyondellBasell to provide support to the companies which are involved in recycling and plastic waste processing.

Request Access For the Latest Price Trends of polypropylene

According to Yvonne van der Laan, LyondellBasell Executive Vice President, Circular and Low Carbon Solutions, this move backs the existing assets in the Netherlands and Germany in line with their integrated hub model. This collaboration allows them to capitalize on the local synergies with their high-grade Circular Polymers business in engineering and processes. Furthermore, it opens up opportunities for expanding their Circulen Recover portfolio, enabling them to create solutions for customers and brand owners to support their circular and low-carbon objectives.

Over and beyond that, Stiphout's CEO is looking forward to collaborating with an experienced polymer producer with the aim of augmenting their commercial and operational capabilities. Believing the significance of circularity in tackling the waste generated from plastics, the company has joined hands with LyondellBasell. The partnership is poised to bring about positive transformations, one step at a time.

Read More About Polypropylene Production Cost Reports - Get Free Sample Copy in PDF

Stiphout is a highly respected company specializing in collecting and treating used plastic packaging waste. The company has a manufacturing facility located in Montfort, Netherlands, which has a processing capacity of the waste generated by approximately 500,000 citizens each year. LyondellBasell and Stiphout are committed to finding innovative solutions to protect the environment and ensure a sustainable future.

Since 2015 Stiphout, a Netherlands-based organization, has been at the forefront of innovation. Their expertise transforms plastic household waste into cleaned chips of recycled polypropylene as well as high-density polyethylene materials.

According to Procurement Resource, LyondellBasell has acquired half of Stiphout's stake to support the company with its innovative solutions for ensuring a sustainable future. Moreover, the vision of both companies aligns to tackle plastic wastes and process them to manufacture recycled polypropylene and polyethylene materials.