The CEO of DPSR, Roy de Paauw, and ING Corporate Investments, the investment division of the Dutch multinational banking and financial services company ING Group, sold their 50% stake to LyondellBasell
Officials at the signing ceremony. (Credit: DPSR)
Global chemical company LyondellBasell has snapped up a 50% stake in Rodepa Vastgoed, the holding company of De Paauw Sustainable Resources (DPSR).
DPSR is a Dutch plastic waste recycling company that expertise in the sourcing, processing, and trading of post-consumer and post-industrial plastic packaging waste.
The CEO of DPSR, Roy de Paauw, and ING Corporate Investments, the investment division of the Dutch multinational banking and financial services company ING Group, sold their 50% stake to the Netherlands-based LyondellBasell.
DPSR currently has production sites in Hengelo and Enschede, Netherlands.
Both facilities are said to have an annual processing capacity equal to the amount of plastic packaging waste created by over 1.7 million Dutch individuals.
LyondellBasell circular and low carbon solutions executive vice president Yvonne van der Laan said: “Investing in DPSR aligns with our strategy to increase our access to plastic waste feedstock, which supports our integrated hub strategy that allows us to build scale and expand our production and offering of CirculenRecover products.
“Demand for recycled plastics continues to grow as consumers and brand owners ask for sustainable materials.
“Through this collaboration, we can further expand our CirculenRecover portfolio of mechanically recycled polymers, creating solutions for our customers.”
Since its founding in 1956, DPSR has a vast network of sources of plastic garbage.
The waste recycling company now converts plastic waste into commodities such as low-density polyethylene (LDPE) and recycled polypropylene (PP).
Paauw said: “With a great team of driven employees, we have steadily built our business over the years by responsibly and carefully finding new uses for used plastics.
“I greatly appreciate the cooperation we had with ING CI. I am proud that LyondellBasell is participating in our company and that we are now joining forces to recycle even more plastic waste into high-quality raw material.”