Belgium: Business Deal Lyondell Basell, Suez Acquire Plastics Recycling Firm Tivaco
With the takeover, Lyondell Basell and Suez will increase its plastics recycling capacity at its joint venture firm Quality Circular Polymers to approximately 55,000 tonnes per year. The move also enables Lyondell Basell's ambition to produce 2 million tonnes per year of recycled and renewable source-based polymers by 2030.
Rotterdam/The Netherlands – Lyondell Basell and Suez have jointly announced the acquisition of Tivaco, a plastics recycling company located in Blandain, Belgium. 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 tonnes per year.
"This latest investment in QCP supports Lyondell Basell's ambition to produce and market 2 million tonnes per year of recycled and renewable source-based polymers by 2030. Extending the plastics lifecycle through recovery, recycling and reuse not only eliminates waste but also produces a product with a lower CO2 footprint," said Richard Roudeix, Senior Vice President Olefins & Polyolefins, Europe, Lyondell Basell. "This innovative approach is key to unlocking additional value from existing plastics while addressing brand owners' needs for sustainable products."
"We are thrilled to take a step forward with our long-term partner Lyondell Basell. With the new acquisition, we will together speed up the use of quality circular polymers in Europe and support industrial manufacturers' efforts to reach their environmental targets," commented Jean-Marc Boursier, Suez Group COO. "It also confirms Suez's ambition to become the world leader in environmental services by 2030."
The Tivaco facility operates five production lines capable of processing approximately 22,000 tonnes of recycled plastic per year. This 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 tonnes of material per year. Today, recycled materials from QCP can be found in consumer products including Samsonite's S'Cure ECO luggage collection.
QCP is committed to ending plastic waste in the environment. The joint venture leverages the two partners' respective strengths. Suez will utilise its leading-edge technology solutions in sorting and recycling to improve the preparation of materials to be recovered at QCP. Lyondell Basell will apply its long-standing leadership in innovative plastic production technology, vast experience in product development and deep knowledge of important end markets such as consumer goods, where the company has a strong presence.
Both Suez and Lyondell Basell are members of the Alliance to End Plastic Waste, a global, cross-value chain non-profit organisation committed to ending plastic waste in the environment. The Alliance brings together a diverse network of resources and expertise to create and scale innovative solutions around the world.