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LyondellBasell and SUEZ Begin Joint Plastics Recycling Venture

The two companies will jointly own Quality Circular Polymers.

LyondellBasell, a global plastics, chemicals and refining company, and SUEZ, the global sustainable resource management company, have partnered equally to launch Quality Circular Polymers (QCP), a Netherlands-based premium plastics recycling company.

"Partnering with SUEZ allows us to contribute to the circular economy in a way that no plastics company has before," said Bob Patel, CEO at LyondellBasell, in a statement. "For several years, we have seen increased demand for recycled and reused plastics, especially in Europe. With QCP, we have combined our respective expertise with SUEZ to create an innovative system that can be scaled as the circular economy grows."

In the partnership, SUEZ will provide technology solutions to improve materials identification and preparation. Meanwhile, LyondellBasell will draw on its product development experience and knowledge of key end markets.

"The circular economy will increasingly develop into a critical part of the plastic value chain. Moving forward, we will bear in mind the economics of operating our businesses must be balanced with environmental awareness," said Jean-Louis Chaussade, CEO of SUEZ, in a statement. "As we move towards becoming value players in the circular economy, we will continue to seek opportunities for future growth."

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