LYONDELLBASELL and SUEZ have jointly acquired plastics recycling company TIVACO, which will become part of the companies’ plastics recycling joint venture.
TIVACO, based in Belgium, will become part of Quality Circular Polymers (QCP), the existing plastic recycling 50/50 joint venture between LyondellBasell and SUEZ. The TIVACO facility has five production lines that can process around 22,000 t/y of recycled plastic. Through the acquisition of TIVACO, QCP will increase its production capacity for recycled plastics to 55,000 t/y.
The joint venture uses SUEZ’s sorting and recycling technology to improve material preparation, and uses LyondellBasell’s plastic production technology and experience in product development.
Richard Roudeix, Senior Vice President Olefins & Polyolefins, Europe, LyondellBasell, said: “This latest investment in QCP supports LyondellBasell's ambition to produce and market 2m t/y 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.”
Jean-Marc Boursier, SUEZ Group COO, said: “We are thrilled to take a step forward with our long-term partner LyondellBasell. 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.”
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