LyondellBasell, a chemical giant, and Suez, a sustainable resource management expert, announced that they have established a joint venture company called Quality Cycle Polymer (QCP). The shares of the two companies each accounted for half. The joint venture company is located in Stadhelen, the Netherlands, which is a high-quality plastic recycling company.
The joint venture company will make full use of the advantages of the two companies. Suez will use its technology to improve the identification, material preparation and separation of QCP raw materials. LyondellBasell will use its professional plastics production technology and product development as well as its understanding of the end market (such as consumer products) to become a strong presence of the company.
The QCP plant will convert recycled plastic waste into PE and PP materials. The plant's current annual conversion capacity is 25,000 tons of polypropylene (PP) and high-density polyethylene (HDPE). By 2028, this figure is expected to increase to 35,000 tons and reach 100,000 tons by 2020.
LyondellBasell will add QCP's recycled products to existing PE and PP materials to meet the growing demand for recycled products from customers