Rotterdam-based LyondellBasell and Paris-based Suez have announced the acquisition of Tivaco, a plastics recycling company based in Blandain, Belgium.
According to a joint news release from LyondellBasell and Suez, the acquired company will become part of Quality Circular Polymers (QCP), the companies’ existing plastics recycling joint venture. With this transaction, QCP will increase its production capacity for recycled materials to about 55,000 metric tons per year.
“This latest investment in QCP supports LyondellBasell’s ambition to produce and market 2 million tons per year of recycled and renewable source-based polymers by 2030. Extending the plastics life cycle through recovery, recycling and reuse not only eliminates waste but also produces a product with a lower CO2 footprint,” says Richard Roudeix, senior vice president Olefins and Polyolefins, Europe, LyondellBasell.
Jean-Marc Boursier, Suez Group chief operating officer, adds, “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.”
The Tivaco facility operates five production lines capable of processing 22,000 metric tons of recycled plastic per year. LyondellBasell and Suez say this acquisition builds on their 2018 acquisition of QCP, a plastics recycling company in Geleen, the Netherlands, which is capable of processing about 35,000 metric tons of material per year. Today, recycled materials from QCP can be found in consumer products, such as Samsonite’s S’Cure ECO luggage collection.
At QCP, Suez uses its technology solutions in sorting and recycling to improve the preparation of materials to be recovered, while LyondellBasell applies its plastic production technology and experience in product development, the companies say.