ROTTERDAM, The Netherlands, July 19, 2023 /PRNewswire/ -- LyondellBasell announced today that it has acquired a 50% stake in Stiphout Industries B.V. ("Stiphout"). Stiphout is involved in the sourcing and processing of post-consumer plastic packaging waste. The company operates a facility located in Montfort, the Netherlands, with an annual processing capacity equivalent to the amount of plastic packaging waste generated by more than 500,000 Dutch citizens per year.
"Investing in Stiphout aligns with our strategy of investing in plastic waste processing and recycling companies that support our existing assets in the Netherlands and Germany and fits with our integrated hub model," said Yvonne van der Laan, Executive Vice President from LyondellBasell, Circular and Low Carbon Solutions. "Through this collaboration, we are able to leverage local synergies with our quality circular polymer business in terms of logistics and operations. It also opens up possibilities to further expand our CirculenRecover portfolio, creating solutions for customers and brand owners in support of their circular and low carbon targets."
Stiphout was founded in 2015 and over time has built up experience in processing plastic household waste into clean flakes of recycled polypropylene (PP) and high-density polyethylene (HDPE) materials, establishing itself as an innovative player in the Netherlands.
"Partnering with an experienced polymer producer will provide opportunities to further increase the commercial and operational excellence of our operations," said Eline Stiphout, Founder and CEO of the Stiphout Group. "We are excited to partner with LyondellBasell as we share that circularity is critical to help end plastic waste."
About LyondellBasell We are LyondellBasell (NYSE: LYB), a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a low-carbon, circular economy. In everything we do, we aim to create value for our customers, investors and society. As one of the world's largest polymer producers and a leader in polyolefin technologies, we develop, manufacture and market high-quality, innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. For more information, visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.
About Stiphout Industries Stiphout Industries was founded by Eline Stiphout in 2015 with the goal of recycling post-consumer waste into high-quality flakes. The company expanded rapidly and soon became a specialist in the recycling of Dutch household waste.
It developed its own processing lines and has positioned itself as a sustainable and innovative recycler. Stiphout is proud to contribute to a more circular use of plastics.
FORWARD-LOOKING STATEMENTS Statements in this release relating to matters that are not historical facts are forward-looking statements. These forward-looking statements are based on assumptions by LyondellBasell's management believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual results could differ materially based on factors including, but not limited to, our ability to meet our sustainability goals, including the ability to increase production of recycled and renewable polymers; the successful implementation of growth plans; and the successful operation of the facilities described in this release. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the "Risk Factors" section of our Form 10-K for the year ended December 31, 2022, which can be found at www.LyondellBasell.com on the Investor Relations page and on the Securities and Exchange Commission website at www.sec.gov.
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