- Veolia sells its 50% share of QCP to LyondellBasell.
- QCP facilities are located in Belgium and the Netherlands.
- QCP produces mechanically recycled blends from household plastic waste.
- LyondellBasell aims to produce 2 million metric tons of recycled and renewable-based polymers.
Ownership Restructure
LyondellBasell has signed an agreement with Veolia Belgium to acquire Veolia's 50% share in Quality Circular Polymers (QCP), making LyondellBasell the sole owner of QCP. The QCP recycling facilities are located in Belgium and the Netherlands.
Recycling Operations
QCP specializes in producing mechanically recycled polymer blends from household plastic waste. These recycled materials are used in a variety of products, including bottles, buckets, caps, closures, strollers, and suitcases. LyondellBasell will continue to market QCP polymers under its CirculenRecover brand.
Strategic Goals
With full ownership of QCP, LyondellBasell aims to advance its strategy of building a profitable circular and low carbon solutions business. The company has set a target to produce and market at least 2 million metric tons of recycled and renewable-based polymers.
Future Collaboration
Despite the divestment, Veolia will continue to cooperate with LyondellBasell as a feedstock supplier for several years. This move aligns with Veolia's strategy to grow its presence across the entire value chain in Europe and worldwide, allowing them to internalize additional volumes in their plastics recycling plants in Europe.
