Founded in 2015, Stiphout is active in the collection and processing of waste plastic packaging from post-consumer sources and runs a factory in Montfort, the Netherlands
Stiphout is a Dutch recycling company. (Credit: -Rita-👩‍🍳 und 📷 mit ❤ from Pixabay)
Global chemical company LyondellBasell has acquired a 50% stake in the Netherlands-based recycling company Stiphout Industries for an undisclosed amount.
Stiphout is active in the collection and processing of waste plastic packaging from post-consumer sources.
The firm operates a factory in Montfort, the Netherlands, with an annual processing capacity equal to the amount of plastic packaging waste produced by more than 500,000 Dutch residents.
LyondellBasell Circular and Low Carbon Solutions EVP Yvonne van der Laan said: “Investing in Stiphout aligns with our strategy to invest in recycling and plastic waste processing companies that support our existing assets in the Netherlands and Germany and fits with our integrated hub model.
“Through this collaboration, we can leverage local synergies with our Quality Circular Polymers business in terms of logistics and operations. It also unlocks possibilities to further expand our CirculenRecover portfolio, creating solutions for customers and brand owners in support of their circular and low-carbon targets.”
In the Netherlands, Stiphout was established in 2015 and has since gained expertise in the processing of household plastic waste into clean flakes of recycled polypropylene (PP) and high-density polyethylene (HDPE) materials.
Stiphout group founder and CEO Eline Stiphout said: “Partnering with an experienced polymer producer will provide possibilities to further step-up commercial and operational excellence of our operations.
“We are excited to team up with LyondellBasell since we share that circularity is critical to helping end plastic waste.”
In May this year, the chemical company signed an agreement to take full ownership of the Quality Circular Polymers (QCP) plastics recycling joint venture (JV) by acquiring a 50% stake in its partner Veolia Belgium.
The deal was intended to advance LyondellBasell’s strategy to develop a profitable circular and low-carbon solutions firm to meet customer demand for more sustainable solutions and products.