On December 1, according to European Plastics News Network, LyondellBasell may continue its “internal cleanup work”: the company will review the profitability of European factories, and management may cut Get rid of factories with low profit margins.
LyondellBasell previously announced in September that it had begun negotiations with regional unions to manage potential layoffs resulting from the closure of one of two polypropylene production units in Brindisi, Italy.
Betting on the plastic recycling industry
It is reported that the only thing that may not be affected by this cleanup plan is the chemical recycling activities of plastic waste. Funds for these activities will definitely be invested, including the recently announced pyrolysis demonstration in Wesseling, Germany. factory.
So far, LyondellBasell has focused on selling its business at the Houston refinery in the U.S., but the divestiture efforts have so far been difficult, forcing the company to extend operations until 2025, prompting the company to rethink: It will now convert the plant into a recycling materials factory. In addition, the company is also pursuing similar solutions for ethylene oxide production in the Gulf of Mexico.
CEO Peter Vannack
Vanacker said this improvement will come from a value creation plan that includes three key points: accelerating growth, improving profit margins with higher quality recycled materials, and keeping a close eye on the company’s position in global markets.
Peter Vanacker, CEO of LyondellBasell
On March 14, LyondellBasell held Capital Markets Day at the New York Stock Exchange.
Day) event and released a new company’s long-term strategy. We are meeting demand by adapting our operations to use plastic waste as a valuable carbon source and creating products and sustainable solutions using circular and renewable materials.
Huge loop territory
On November 20, LyondellBasell announced that it has made a final investment decision to build its first industrial-scale catalytic advanced recycling demonstration plant at its plant in Wesseling, Germany. The plant will use LYB’s proprietary MoReTec technology and will be the first commercial-scale, single-train advanced recycling plant to convert post-consumer plastic waste into feedstock for the production of new plastic materials and achieve net-zero greenhouse gas emissions. The factory is expected to have an annual production capacity of 50,000 tons and can recycle the plastic packaging waste generated by more than 1.2 million German citizens a year. The factory is scheduled to be completed by the end of 2025.
On October 26, LyondellBasell announced that it had acquired a 25% stake in Cyclyx International. Cyclyx
International is a company specializing in waste plastic recycling, developing innovative recycling solutions for all types of waste plastics. Yvonne van, Executive Vice President of Circulars and Renewable Feedstocks at LyondellBasell
Der Laan said investments in Cyclyx, Agilyx and ExxonMobil will help create strong supply chains to increase access to circular and renewable feedstocks.
On July 5, the company announced the completion of the acquisition of Mepol Group, a manufacturer of recycled high-performance technical compounds located in Italy and Poland. Mepol S.r.l. and its subsidiary Polar
S.r.l. and Industrial Technology Investments Poland
Sp.z.o.o will become a subsidiary of LyondellBasell’s Advanced Polymer Solutions (APS) business unit. LyondellBasell is establishing leadership through its integrated value chain approach to innovative products and technologies that meet the rapidly growing market demand for circular and renewable solutions. The company has committed to produce and sell at least 2 million tons of polymers from recycled or renewable resources annually by 2030 to meet the needs of its customers.
On June 16, LyondellBasell and German agricultural film recycler AFA Nord announced the establishment of a joint venture, with each party holding a 50% shareholding ratio, aiming to promote the recycling of secondary plastic packaging. LMF
Nord said it is building a mechanized recycling plant in northern Germany to convert linear low-density polyethylene (LLDPE) and low-density polyethylene (LDPE) waste into high-quality recycled plastic materials for flexible packaging. If all goes according to plan, the plant will be put into operation in early 2025 with a capacity of 26,000 tons per year.
On May 28, LyondellBasell announced that it had signed an agreement with Veolia Belgium to restructure Quality Circular in Belgium and the Netherlands.
Ownership of Polymers (QCP) BV recycling facility. Veolia sells 50% of its shares to LyondellBasell, which will become QCP
100% owner. LyondellBasell said that owning 100% of QCP can help the company achieve its goal of producing and selling at least 2 million tons of recycled and renewable polymers, and Veolia will continue to cooperate with it as a raw material supplier.
Leander Bassell:
As one of the world’s largest polymers, petrochemicals and fuel companies, LyondellBasell, founded in 2000, has become a global leader in polyolefin technology, production and market; it is the leader in propylene oxide and A pioneer in its derivatives; an important producer of fuel oils and their refined products, including biofuels.
Four major businesses: olefins and polyolefins business (O&P), advanced materials business (APS), intermediates and derivatives business (I&D), and technology licensing business (Licensing).
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