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LyondellBasell acquires 50% stake in plastics recycling company

Plastics and chemicals company LyondellBasell Industries NV has acquired a 50% stake in Netherlands-based plastics recycling company Quality Circular Polymers.

LyondellBasell will operate Quality Circular Polymers in a 50-50 joint venture with France-based resource management company Suez.

Quality Circular Polymers' plant located in Sittard-Geleen, Netherlands, turns used plastic material into virgin-replacement quality polyethylene and polypropylene materials. It can convert waste into 25,000 tons of polypropylene and high-density polyethylene materials and plans to increase its capacity to 35,000 tons later in 2018 and to 100,000 tons by 2020.

LyondellBasell said it will add the recycled products to its existing range of polyethylene and polypropylene materials to meet rising customer demand.