Suez and LyondellBasel jointly purchase plastic recycler TIVACO

0
99
TIVACO SUEZ LyondellBasel
LyondellBasell and SUEZ jointly announced the acquisition of TIVACO, a plastics recycling company located in Blandain, Belgium. The acquisition will increase production capacity for recycled materials at the companies' existing 50/50 plastics recycling joint venture, Quality Circular Polymers (QCP).

Belgian plastic recycler TIVACO has been jointly acquired by SUEZ and LyondellBasel.

The company, which recycles PP; PE and PS, is located in Blandain in Belgium and will become part of the SUEZ/LyondellBasel 50/50 venture Quality Circular Polymers (QCP).

Advertisement

As a result of this transaction, QCP will increase its production capacity for recycled materials to approximately 55,000 tonnes per year.

The TIVACO facility operates five production lines capable of processing approximately 22,000 tonnes of recycled plastic per year.

This acquisition builds on the 2018 purchase of QCP, which was a Netherlands-based plastic recycler that processed 35,000 tonnes of material per annum.

LyondellBasel senior vice president olefins & polyolefins Europe Richard Roudeix said: “This latest investment in QCP supports LyondellBasel’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.

“This innovative approach is key to unlocking additional value from existing plastics while addressing brand owners’ needs for sustainable products.”

SUEZ Group chief operating officer Jean-Marc Boursier added: “We are thrilled to take a step forward with our long-term partner LyondellBasel. With this 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.

“It also confirms SUEZ’s ambition to become the world leader in environmental services by 2030.”

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.