The chemical and plastics company LyondellBasell has acquired "mechanical recycling assets containing rigid plastics recycling processing lines" from Prezero. The transaction will also see LyondellBasell (LYB) lease a processing facility in Jurupa Valley, California, which can produce around 50 million US pounds or 22,650 tonnes of recycled plastic each year. The companies did not disclose any information about the value of the transaction.
Prezero’s US subsidiary is headquartered in Jurupa Valley around 50 miles east of Lost Angeles. The company said that it has been turning film scrap and mixed rigid plastic scrap into recycled LDPE, polypropylene and polyethylene there since 2020.Last week, Prezero said that it had concluded operations there and was "confident new owner Lyondell Basell will be good stewards of our mechanical recycling assets at those facilities".
Elsewhere in the US plastic recycling sector, Lyondell-Basell is also involved in the Cyclyx joint venture, which greenlighted a major project in December....
