LyondellBasell Acquires Mechanical Recycling Assets and Plans Operations in California

Source: www.gulfoilandgas.com 2/20/2024, Location: North America

LyondellBasell (NYSE: LYB) today announced it has acquired mechanical recycling assets and properties containing rigid plastics recycling processing lines from PreZero, a global recycling leader and waste management service provider. The transaction includes leasing the processing facility in Jurupa Valley, Calif., which has a production capacity of approximately 50 million pounds per year for recycled materials.

"This acquisition further strengthens our U.S. presence and will deliver value for our customers and plastic recycling rates in the West Coast," said Yvonne van der Laan, LyondellBasell executive vice president, Circular and Low Carbon Solutions. "We will build upon our existing experience in plastic recycling in Europe and deliver a state-of-the-art, mechanical recycling facility to meet growing demand for recycled products in the U.S."

LYB plans to operate its newly-acquired mechanical recycling plant in California to manufacture post-consumer recycled resins using plastic waste feedstock. LYB will offer these recycled polymers under its CirculenRecover brand, part of the company's Circulen portfolio of products that enable the circular economy. LYB expects to commence operations at its new facility in 2025.

The transaction supports the company's efforts to build a circular economy for plastic, help end plastic waste in the environment and meet customers' growing demand for sustainable products. Together with the previously announced equity stake in the Cyclyx joint venture and investment in the Cyclyx Circularity Center in Houston, this latest California-based transaction will further enhance the competitiveness of LYB in the U.S. recycled products market.


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