The global plastics and chemical company LyondellBasell in partnership with SUEZ, a world leader in environmental services, announced the acquisition of a plastics recycling company TIVACO, located in Blandain, Belgium.
- The company will become part of Quality Circular Polymers (QCP), the companies’ existing 50/50 plastics recycling joint venture.
- QCP is committed to ending plastic waste in the environment. The joint venture leverages the two partners’ respective strengths. SUEZ will utilize its leading-edge technology solutions in sorting and recycling to improve the preparation of materials to be recovered at QCP.
- With this transaction, QCP will increase its production capacity for recycled materials to approximately 55,000 tonnes per year.
The prominent deals and JVs of LyondellBasell are mentioned below:
Dec 2020: The a global integrated chemicals and energy company Sasol and leading plastics and chemicals manufacturer LyondellBasell announced the closing of their Louisiana-based Integrated Polyethylene Joint Venture (JV) transaction.
Oct 2020: LyondellBasell announced to acquire 50 percent of Sasol’s 1.5 MM ton ethane cracker, 0.9 MM ton low and linear-low density polyethylene plants and associated infrastructure for approximately $2 Billion.
Sep 2020: LyondellBasell announced the successful start-up of its MoReTec molecular recycling facility at its Ferrara, Italy, site. The new facility can be used for food packaging and healthcare items.
March 2020: LyondellBasell had announced an expansion in China with a 50:50 joint venture with Liaoning Bora Enterprise Group (Bora). As per MoU signed, the partners will form a Sino-foreign joint venture, the Bora LyondellBasell Petrochemical company. The JV will operate a 1.1 million metric tons per annum ethylene cracker and associated polyolefin derivatives complex in Panjin, China, with a total expected cost of approximately $2.6 billion.
LyondellBasell, is a worlds leading plastic, chemical and refining company, headquartered in Rotterdam, Netherlands. The company provides lightweight and flexible packaging, stronger and more versatile pipes and is involved in improving the safety, comfort and fuel efficiency of many of the cars and trucks on the road. The company sells products into approximately 100 countries and is the world’s largest producer of polymer compounds and the largest licensor of polyolefin technologies. LyondellBasell is a global producer of polypropylene and polyethylene technologies with more than 280 polyolefin process licenses globally.