LyondellBasell buys 50 per cent stake in Dutch plastics recycler
Canadian PlasticsMaterials Recycling
The chemical maker has bought a stake in Rodepa Vastgoed B.V., the holding company of De Paauw Sustainable Resources.
Chemical maker LyondellBasell has acquired a 50 per cent stake in Rodepa Vastgoed BV, the holding company of De Paauw Sustainable Resources (DPSR).
The financial terms of the deal have not been disclosed.
The Dutch plastic waste recycling company is involved in the sourcing, processing and trading of post-consumer and post-industrial plastic packaging waste. DPSR operates production facilities located in Hengelo and Enschede, the Netherlands, with an annual processing capacity equivalent to the amount of plastic packaging waste generated by over 1.7 million Dutch citizens per year.
“Investing in DPSR aligns with our strategy to increase our access to plastic waste feedstock, which supports our integrated hub strategy that allows us to build scale and expand our production and offering of CirculenRecover products,” Yvonne van der Laan, LyondellBasell executive vice president, Circular and Low Carbon Solutions, said in a news release. “Demand for recycled plastics continues to grow as consumers and brand owners ask for sustainable materials. Through this collaboration, we can further expand our CirculenRecover portfolio of mechanically recycled polymers, creating solutions for our customers”.
DPSR was founded in 1956, and processes plastic waste into recycled polypropylene (PP) and low-density polyethylene (LDPE) materials.
LyondellBasell acquired its 50 per cent share from DPSR CEO Roy de Paauw and ING Corporate Investments, the investment branch of the Dutch multinational banking and financial services corporation ING Group.