Netherlands. Suez and LyondellBasell purchased a 50% stake in Quality Circular Polymers, a high standard plastics recycling company.SUEZ-LYONDELLBASELL’S PLASTIC RECYCLING JV TO SPUR HDPE MARKET Ojaswita Kutepatil November 29, 2017 news No Comments Suez and LyondellBasell, renowned players specializing in waste and water management, have recently announced that they have reached the final terms of agreement to purchase a 50% stake in a high standard plastics recycling company, Quality Circular Polymers (QCP), situated in Sittard-Geleen, Netherlands. Reportedly, this deal marks the first time that two key players of the polymers and advanced materials industry have collaborated with a leader in resource management to contribute their bit toward circular economy objectives. As per the terms of the agreement, Suez and LyondellBasell will be equal (50:50) partners in QCP, prior to which, 45% stakes were held by Suez, 35% by financial investors, and 20% by OCP managers, as per reports. However, now with the latest terms of agreement, experts believe that the new venture is all set to provide a strategic platform for sustainable growth, by taking advantage of LyondellBasell’s technical capabilities & powerful presence in the European market and Suez’s ability to recycle waste into new materials. Through this partnership, analysts anticipate the new venture to garner remarkable proceeds for high density polyethylene (HDPE) market. Reports state that, QCP’s Sittard-Geleen unit will have a capacity of converting consumer waste into 35,000 tons of HDPE and PP every year, commencing from 2018. As LyondellBasell will market QCP materials and Suez will provide plastic waste, high density polyethylene industry is likely to witness considerable boost in terms of capacity and revenue generation, cite experts. Moreover, according to reports, QCP has also commenced the construction of its HDPE plant on the Gulf Coast of U.S. which will boast its Hyperzone PE technology. The facility may have a capacity of 1.1 billion pounds per year and is further expected to strengthen the growth prospects of high density polyethylene industry. Sources reveal that, LyondellBasell and Suez’s agreement is subject to regulatory approval and the deal would gain closure by the end of 2017.http://hogar.intelect.com.mx/notes/netherlands-suez-and-lyondellbasell-purchased-a-50-stake-in-quality-circular-polymers-a-high-standard-plastics-recycling-companyhttp://hogar.intelect.com.mx/@@site-logo/logoAllen.png
Netherlands. Suez and LyondellBasell purchased a 50% stake in Quality Circular Polymers, a high standard plastics recycling company.
SUEZ-LYONDELLBASELL’S PLASTIC RECYCLING JV TO SPUR HDPE MARKET Ojaswita Kutepatil November 29, 2017 news No Comments Suez and LyondellBasell, renowned players specializing in waste and water management, have recently announced that they have reached the final terms of agreement to purchase a 50% stake in a high standard plastics recycling company, Quality Circular Polymers (QCP), situated in Sittard-Geleen, Netherlands. Reportedly, this deal marks the first time that two key players of the polymers and advanced materials industry have collaborated with a leader in resource management to contribute their bit toward circular economy objectives. As per the terms of the agreement, Suez and LyondellBasell will be equal (50:50) partners in QCP, prior to which, 45% stakes were held by Suez, 35% by financial investors, and 20% by OCP managers, as per reports. However, now with the latest terms of agreement, experts believe that the new venture is all set to provide a strategic platform for sustainable growth, by taking advantage of LyondellBasell’s technical capabilities & powerful presence in the European market and Suez’s ability to recycle waste into new materials. Through this partnership, analysts anticipate the new venture to garner remarkable proceeds for high density polyethylene (HDPE) market. Reports state that, QCP’s Sittard-Geleen unit will have a capacity of converting consumer waste into 35,000 tons of HDPE and PP every year, commencing from 2018. As LyondellBasell will market QCP materials and Suez will provide plastic waste, high density polyethylene industry is likely to witness considerable boost in terms of capacity and revenue generation, cite experts. Moreover, according to reports, QCP has also commenced the construction of its HDPE plant on the Gulf Coast of U.S. which will boast its Hyperzone PE technology. The facility may have a capacity of 1.1 billion pounds per year and is further expected to strengthen the growth prospects of high density polyethylene industry. Sources reveal that, LyondellBasell and Suez’s agreement is subject to regulatory approval and the deal would gain closure by the end of 2017.
SUEZ-LYONDELLBASELL’S PLASTIC RECYCLING JV TO SPUR HDPE MARKET
Suez and LyondellBasell, renowned players specializing in waste and water management, have recently announced that they have reached the final terms of agreement to purchase a 50% stake in a high standard plastics recycling company, Quality Circular Polymers (QCP), situated in Sittard-Geleen, Netherlands.
Reportedly, this deal marks the first time that two key players of the polymers and advanced materials industry have collaborated with a leader in resource management to contribute their bit toward circular economy objectives.
As per the terms of the agreement, Suez and LyondellBasell will be equal (50:50) partners in QCP, prior to which, 45% stakes were held by Suez, 35% by financial investors, and 20% by OCP managers, as per reports. However, now with the latest terms of agreement, experts believe that the new venture is all set to provide a strategic platform for sustainable growth, by taking advantage of LyondellBasell’s technical capabilities & powerful presence in the European market and Suez’s ability to recycle waste into new materials.
Through this partnership, analysts anticipate the new venture to garner remarkable proceeds for high density polyethylene (HDPE) market. Reports state that, QCP’s Sittard-Geleen unit will have a capacity of converting consumer waste into 35,000 tons of HDPE and PP every year, commencing from 2018. As LyondellBasell will market QCP materials and Suez will provide plastic waste, high density polyethylene industry is likely to witness considerable boost in terms of capacity and revenue generation, cite experts. Moreover, according to reports, QCP has also commenced the construction of its HDPE plant on the Gulf Coast of U.S. which will boast its Hyperzone PE technology. The facility may have a capacity of 1.1 billion pounds per year and is further expected to strengthen the growth prospects of high density polyethylene industry.
Sources reveal that, LyondellBasell and Suez’s agreement is subject to regulatory approval and the deal would gain closure by the end of 2017.
