LyondellBasell and Suez jointly acquire plastics recycling company in Belgium
The acquired company, Tivaco, will become part of Quality Circular Polymers, the companies' existing 50/50 plastics recycling joint venture.
Chemical supplier LyondellBasell and French multinational environmental services provider Suez have jointly acquired Tivaco, a plastics recycling company located in Blandain, Belgium, for an undisclosed amount.
The company will become part of Quality Circular Polymers (QCP), the companies’ existing 50/50 plastics recycling joint venture. With this transaction, QCP will increase its production capacity for recycled materials to approximately 55,000 tons per year.
The Tivaco facility operates five production lines capable of processing approximately 22,000 tons of recycled plastic per year. In a news release, LyondellBasell said the acquisition builds on the companies’ 2018 acquisition of QCP, a plastics recycling company in Geleen, the Netherlands which is capable of processing approximately 35,000 tons of material per year.
“This latest investment in QCP supports LyondellBasell’s ambition to produce and market 2 million tons per year of recycled and renewable source-based polymers by 2030,” said Richard Roudeix, senior vice president, olefins and polyolefins, Europe, LyondellBasell. “Extending the plastics lifecycle through recovery, recycling and reuse not only eliminates waste but also produces a product with a lower CO2 footprint.”
Officials with LyondellBasell also said the acquisition “leverages the two partners’ respective strengths”: Suez will supply the sorting and recycling technology to improve the preparation of materials to be recovered at QCP, while LyondellBasell will supply product development knowledge of end markets such as consumer goods.