LyondellBasell announced that it has acquired a 50% stake in Stiphout Industries. Stiphout is engaged in the collection and processing of post-consumer plastic packaging waste. The company operates a facility in Montfort, the Netherlands, with an annual processing capacity equivalent to the amount of plastic packaging waste generated by more than 500,000 Dutch citizens per year.
Yvonne van der Laan, LyondellBasell Executive Vice President, Circular and Low Carbon Solutions said:
The investment in Stiphout is consistent with our strategy to invest in recycling and plastic waste processing companies that support our existing facilities in the Netherlands and Germany and fits our integrated hub model. Through this collaboration, we can leverage local synergies with our Quality Circular Polymers business in terms of logistics and operations. It also opens up opportunities to further expand our CirculenRecover portfolio and create solutions for customers and brand owners to support their circular and low-carbon goals.
Established in 2015, Stiphout has built up experience over time in processing plastic household waste into clean flakes of recycled polypropylene (PP) and high-density polyethylene (HDPE), establishing itself as an innovative player in the Netherlands.
Eline Stiphout, founder and CEO of the Stiphout Group stated:
Partnering with an experienced polymer producer will provide opportunities to further enhance the commercial and operational excellence of our operations. We are delighted to be working with LyondellBasell, as we share the view that circularity is crucial to ending plastic waste.
