Gulf Oil and Gas accountACCOUNT

LyondellBasell & SUEZ Purchase European Plastics Recycling Company

Source: www.gulfoilandgas.com 11/27/2017, Location: North America

Share |
LyondellBasell (LYB), one of the world's largest plastics, chemical and refining companies, announced it has entered into a definitive agreement to purchase a 50 percent stake in Quality Circular Polymers (QCP), a high standard plastics recycling company in Sittard-Geleen, Netherlands. Under the terms of the agreement, LyondellBasell will be a 50 / 50 partner in QCP with SUEZ, a French company specialized in water and waste management.

This transaction marks the first time that a major plastics and chemicals company partners with a leader in resource management to contribute to circular economy objectives.

"As the circular economy increases in prominence and importance, we believe that demand for recycled materials will continue to grow," LyondellBasell CEO Bob Patel and SUEZ CEO Jean-Louis Chaussade said in a joint statement. "This acquisition combines LyondellBasell's European market presence and technical capabilities with SUEZ's ability to collect and recover waste into new materials. We believe that this new venture will provide a strategic platform for future sustainable growth."

QCP was founded in 2014. Its Sittard-Geleen facility, near Maastricht, is capable of converting consumer waste into 35,000 tons of polypropylene (PP) and high-density polyethylene (HDPE) per year starting in 2018.

LyondellBasell will market QCP materials following the completion of the transaction, which is subject to regulatory approval. LyondellBasell and SUEZ are seeking to secure regulatory approval by the end of this year.

Acquisitions and Divestitures News in United States >>

Italy >>  10/11/2018 - Po Valley Energy is to retain full ownership of two onshore oil fields in northern Italy after their sale to a private London-based resources company,...
Norway >>  10/10/2018 - U.S. oil firm Chevron (CVX.N) will become the first oil major to formally exit the Norwegian continental shelf (NCS) as it transfers its last stake in...

United Kingdom >>  10/9/2018 - AIM-listed Serica Energy has announced that its wholly owned subsidiary,Serica Energy (UK) and BP have received a conditional License and assurance fr...
United Kingdom >>  10/9/2018 - Hibiscus Petroleum has announced that its indirect wholly-owned subsidiary, Anasuria Hibiscus UK ('AHUK'), has entered into a conditional sale and pur...

Senegal >>  10/8/2018 - African Petroleum, an independent oil and gas exploration company with licence interests in offshore West Africa, notes the recent update issued by Pe...
Australia >>  10/5/2018 - Beach Energy Limited and Eyal Oferís O.G. Energy Holdings Ltd., a member of the Ofer Global group of companies, announce that they have entered into a...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


United States Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 |

More News

 

Oil & Gas Companies in United States >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.