The plastic manufacturer Lyondell-Basell is to acquire the shares in plastic recycler Quality Circular Polymers (QCP) held by its joint venture partner Veolia Belgium. An agreement restructuring the ownership of QCP, which has operations in the Netherlands and Belgium, was signed in late April. Under the terms of the deal, Veolia will sell its 50 per cent stake to Lyondell-Basell, which will become QCP’s sole owner. The companies did not disclose any details as to the purchase price.
Lyondell-Basell said that it was well-positioned to keep working with its customers to deliver the products and solutions they needed to reach their own goals. “Full ownership of QCP supports our goal to produce and market at least 2 million metric tons of recycled and renewable-based polymers. We thank Veolia for their collaboration over the past five years and look forward to continuing to work with them as a feedstock supplier,” remarked Yvonne van der Laan, Executive Vice President of Lyondell-Basell’s Circular & Low Carbon Solutions unit.
QCP’s mechanical recycling plant in Sittard-Geelen, the Netherlands, processes PP and PE packaging waste from household collections. The recycled plastic it makes is used to manufacture items like bottles, buckets, caps and closures, as well as pushchairs and suitcases. Lyondell-Basell would continue marketing QCP polymers under its Circulen Recover brand.
“Veolia’s strategy is to grow its presence across the entire value chain in Europe and worldwide. The divestment of our participation in the QCP is in line with this strategy, as it will allow us to internalise additional volumes in our plastics recycling plants in Europe. We will continue cooperation with Lyondell-Basell, notably by remaining a QCP feedstock supplier for several years,” said Eric Troudoux, Veolia’s Senior Vice President of Solid Waste Recycling & Recovery.
In winter 2020, QCP acquired the Belgian plastic recycler Tivaco. At the time, the firm said that this transaction raised its annual production capacity to approximately 55,000 tonnes. Tivaco operates several production lines that can handle roughly 22,000 tonnes of recycled PS, PP, PE and soft PVC each year.