LyondellBasell Signs Lease to Build Waste Plastic Recycling Hub in Germany — OPIS
LyondellBasell has signed a land lease agreement to build an integrated plastic waste recycling hub in Knapsack, Germany, it said in a news release Monday.
The hub's initial advanced sorting facility will start operating in the first quarter of 2026, as LyondellBasell aims to produce and market at least 2 million metric tons/year of recycled and renewable-based polymers by 2030.
"The integrated recycling hub will also produce feedstock for the advanced recycling unit the company will build at its Wesseling site," said interim Wesseling-Knapsack site manager Stephan Staender. "The new hub will also provide opportunities for synergies with the company's mechanical recycling facility in Geleen, Netherlands and the company's polypropylene compounding facility in Knapsack."
LyondellBasell signed the lease agreement with YNCORIS GmbH and the integrated recycling hub will cover an area equivalent to 20 soccer fields. It did not disclose the value of the agreement or projected cost of the hub's construction in the news release.
This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.
--Reporting by Rob Sheridan, rsheridan@opisnet.com; Editing by Yazdi Merchant, ymerchant@opisnet.com
-0-
(MORE TO FOLLOW) Dow Jones Newswires
April 29, 2024 12:32 ET (16:32 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
These Stocks Are (Still) Powering the Bull Market
-
5 Undervalued Energy Stocks to Play the AI Data Center Demand Boom
-
After Earnings, Is Lowe’s Stock a Buy, Sell, or Fairly Valued?
-
5 Stocks With the Largest Fair Value Estimate Cuts After Q1 Earnings
-
10 Stocks With the Largest Fair Value Estimate Increases After Q1 Earnings
-
Markets Brief: Inflation Back in the Spotlight
-
AI Is Booming, but Consumer Spending Is Slowing. Which Will Prevail in the Stock Market?
-
What’s Happening In the Markets This Week
-
3 Dividend Stocks for June 2024
-
After Earnings, Is Alibaba Stock a Buy, Sell, or Fairly Valued?
-
MongoDB Earnings: Slashing Valuation as Execution and Macro to Blame for Lower Guidance
-
Marvell Earnings: We Raise Our Medium-Term AI Forecast and Bring Our Valuation Up to $75
-
Zscaler Earnings: Impressive Traction in Emerging Products Drives Sales Growth for the Quarter
-
Dell Earnings: Raising Valuation on Strong AI, but the Stock Remains Severely Overvalued
-
After Earnings, Is Nvidia Stock a Buy, Sell, or Fairly Valued?
-
The 10 Best Companies to Invest in Now