Houston, TX/PRNewswire/ - LyondellBasell and Veolia Belgium have signed an agreement to restructure the ownership of Quality Circular Polymers (QCP) BV recycling facilities, with locations in Belgium and the Netherlands. Veolia will sell its 50% share to LyondellBasell which will become 100% owner of QCP.
With full ownership of QCP, LyondellBasell is progressing its strategy to build a profitable circular and low carbon solutions business, to meet customer demand for more sustainable products and solutions. LyondellBasell is well-positioned to continue working with its customers to supply the products and solutions needed, to meet their own goals.
"The demand for circular solutions continues to grow, and LyondellBasell is committed to creating solutions for everyday sustainable living," said Yvonne van der Laan, executive vice president, Circular & Low Carbon Solutions of LyondellBasell. "Full ownership of QCP supports our goal to produce and market at least 2 million metric tons of recycled and renewable-based polymers. We thank Veolia for their collaboration over the past five years and look forward to continuing to work with them as a feedstock supplier."
The QCP mechanical recycling facilities produce special blends, using household plastic waste. QCP's recycled materials are used to make items such as bottles, buckets, caps and closures as well as strollers and suitcases. LyondellBasell will continue to offer QCP polymers under its CirculenRecover brand, with QCP as its growth platform to enable circular solutions.
"Veolia's strategy is to grow its presence across the entire value chain in Europe and worldwide. The divestment of our participation in the QCP is in line with this strategy as it will allow us to internalize additional volumes in our plastics recycling plants in Europe. We will continue cooperation with LyondellBasell, notably by remaining a QCP feedstock supplier for several years," said Eric Troudoux, senior vice president Solid Waste Recycling & Recovery.
Veolia and plastics recycling
Global leader in plastics recycling, Veolia operates about 200 sorting centers, 40 recycling and compounding plants and delivers almost 500 thousand tons of circular polymers to thousands of customers over the globe.
Veolia is active across the entire plastics value chain, from ecodesign to the production of ready to use highly performing circular resins. With its dedicated global offer, PlastiLoop, Veolia is committed to implement efficient and low CO2 recycling processes, engage within long term sustainable business models, promote collective responsible cooperation schemes and invest in development and innovation to the service of demanding and safe products, to the benefit of our planet.
We are LyondellBasell – 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.