LyondellBasell announced the acquisition of a 50% stake in Stift Industries.

Stiphout is engaged in the sourcing and processing of post-consumer plastic packaging waste. The company has a plant in Montfort, the Netherlands, with an annual processing capacity equivalent to the amount of plastic packaging waste generated by more than 500,000 Dutch citizens per year.

"Stiphout" Our investment supports our existing assets in the Netherlands and Germany and is in line with our strategy of investing in recycling and plastic waste companies, which is consistent with our integrated center model." LyondellBasell's Vice President of Recycling and Low Carbon Solutions said. President Yvonne van der Laan.

"This partnership allows us to capitalize on the local synergies in logistics and operations of our premium circulating polymers business. It also further expands the circulenrecover portfolio to create solutions for customers and brand owners that support circularity and low cost.-Energy Carbon Targets.

Stiphout was founded in 2015 with extensive experience in processing plastic household waste into recycled polypropylene (PP) and high density polyethylene (HDPE) materials for cleaning waste. Stiphout Founder and CEO, Group Executive Director Stiphout "By partnering with an experienced polymer manufacturer, we have the potential to further enhance the business and operational strengths of our business." We are delighted to be working with Lyondellbasellllll. Everyone agrees that recycling is critical to eliminating plastic waste."
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