LyondellBasell and Genox open plastics recycling joint venture

Photo Credit: LyondellBasell

Resin maker LyondellBasell Industries has opened a plastics recycling joint venture (JV) in Zhaoqing, Guangdong Province in Southern China with recycling systems supplier Genox Recycling.

The plastics recycling plant will use mechanical recycling technology to recycle plastic waste, LyondellBasell officials said, and will produce new polymers using recycled waste, adding to the LyondellBasell CirculenRecover product portfolio.

The JV will operate under the name Guangdong Genox LyondellBasell New Material Co. Ltd.

“This new JV is an execution of LyondellBasell’s strategy of building a strong and profitable Circular and Low Carbon Solutions business in Asia,” said Limin Fu, vice president of the JV. “The JV combines the strengths of both shareholders to deliver the result we see today. This includes partnering with Genox through an off-take business, developing innovative products to meet customer’s needs, growing our capability into the entire plastics recycling value chain. This new joint venture will help develop the local plastics recycling infrastructure in China and contribute to a circular economy.”

On the same day of the JV opening, LyondellBasell contributed to one local elementary school and one middle school with a cash donation and stationary made from the recycled plastics produced from the new JV.

Genox is a manufacturer of integrated recycling systems for the solid waste treatment industry in China. The company’s product offerings include plastic washing, tire recycling, and metal recycling systems.