LyondellBasell has acquired a 50% stake in Rodepa Vastgoed B.V., the holding company of De Paauw Sustainable Resources (DPSR). The Dutch plastic waste recycling company is involved in the sourcing, processing and trading of post-consumer and post-industrial plastic packaging waste.

DPSR operates production facilities located in Hengelo and Enschede, the Netherlands, with an annual processing capacity equivalent to the amount of plastic packaging waste generated by over 1.7 million Dutch citizens per year.

“Investing in DPSR aligns with our strategy to increase our access to plastic waste feedstock, which supports our  integrated hub strategy that allows us to build scale and expand our production and offering of CirculenRecover products,” says Yvonne van der Laan, LyondellBasell executive vice president, Circular and Low Carbon Solutions. “Demand for recycled plastics continues to grow as consumers and brand owners ask for sustainable materials. Through this collaboration, we can further expand our CirculenRecover portfolio of mechanically recycled polymers, creating solutions for our customers”.

DPSR was founded in 1956 and has over time built up an extensive network of plastics waste sources. DPSR has grown into a leading recycler in the Benelux region, processing plastic waste into recycled polypropylene (PP) and low-density polyethylene (LDPE) materials.

“With a great team of driven employees, we have steadily built our business over the years by responsibly and carefully finding new use for used plastics,” says Roy de Paauw, CEO of DPSR. “I greatly appreciate the cooperation we had with ING CI. I am proud that LyondellBasell is participating in our company and that we are now joining forces to recycle even more plastic waste into high-quality raw material.”

LyondellBasell acquired its 50% share from DPSR CEO Roy de Paauw and ING Corporate Investments, the investment branch of the Dutch multinational banking and financial services corporation ING Group.

“Our investment in DPSR always fitted perfectly in the sustainable ambitions of ING and over the past years ING Corporate Investments has been able to work together with DPSR’s management team in further professionalizing the organization, expanding its production platform and preparing the company to realize future sustainable growth. We are extremely glad to see DPSR has found a sound new strategic partner in LyondellBasell for entering its next growth phase after all that has been achieved so far,” says Mathijs Henzen, Investment Director at ING Corporate Investments.