LyondellBasell announces quarterly dividend

LyondellBasell announced it has declared a dividend of $1.19 per share, to be paid December 5, 2022, to shareholders of record on November 28, 2022, with an ex-dividend date of November 25, 2022, said the company.

LyondellBasell announced it has made a decision to move forward with engineering to build an advanced recycling plant at its Wesseling, Germany. Using LyondellBasell's proprietary MoReTec technology, this commercial scale advanced recycling plant would convert pre-treated plastic waste into feedstock for new plastic production. The final investment decision is targeted for the end of 2023.

We remind, Lyondell Basell Industries is evaluating expansion of propylene production capacity at its Channelview Complex near Houston. The potential expansion would involve building a new propylene facility using LyondellBasell's existing technology to convert ethylene into propylene for use in the production of polypropylene and propylene oxide. The related product lines are used to make everyday items such as flexible foam for mattresses, cosmetic packaging, electrical covering for 5G network infrastructure, plastic wrap for food packaging, medical syringes, vehicle bumpers, furniture upholstery and pipe for home plumbing, to name a few.

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The Resilux Group – through its recycling division Poly Recycling Switzerland – has acquired 70% shares of the Serbian PET recycling company Greentech Ltd, said the company.

It gives Resilux significant additional recycling capacity as well as enhanced post-consumer bottle collection and sorting capability.

Since its foundation in 2005, Greentech has been a pioneer and leading PET packaging recycling company in the country. Its recycling facility, located in Mladenovo, Serbia, processes up to 10,000 tons of waste PET packaging per year to produce hot washed PET flakes. In addition to the recycling facility, Poly Recycling has also acquired 70 percent shares in Greentech’s collection and sorting facility in Skopje, North Macedonia. This facility is capable of sorting used PET products by color and type before they are passed on for recycling at Mladenovo.

The acquisition means Resilux has secured a local supply of A-grade PET flakes to serve its existing preform and bottling plant Resilux Adriatic in Lajkovac, Serbia.

According to Resilux COO Marcel van de Sande: “The acquisition expands our operations in the Adriatic region by securing a local supply of used PET. And it continues our ongoing expansion plans for recycling activities by the Resilux Group as we establish a more sustainable and truly circular economy for PET.”

Mihail Mateski remains as General Manager and 30% nt shareholder in Greentech Serbia and North Macedonia. He states: “By becoming members of Resilux group we have secured transfer of know-how and technology for top quality recycled PET bottles for food contact. Combined with Greentech’s expertise of over 20 years in PET collection and recycling, it is the perfect match to provide full circularity of the PET bottles and further development of our recycling operations in the whole West Balkan/Adriatic region.“

We remind, Resilux, a leading PET bottle and preform producer, has announced a major new technology investment which will result in them doubling their bottle-to-bottle PET recycling capacity. Using state of the art equipment from Erema, it is Resilux’s latest step in their drive to create a truly circular economy in PET.
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Trinseo, a specialty material solutions provider and Japan Steel Works Europe GmbH (JSW EU), a group company of The Japan Steel Works, Ltd. (JSW), a manufacturer of industrial and plastics machinery, recently announced a collaborative effort on chemical recycling of polymethyl methacrylate (PMMA), said the company.

In this collaboration, JSW and JSW EU will supply a depolymerization extruder and technologies to Trinseo as well as provide technical support. Trinseo will source and pretreat PIR/PCR PMMA waste as feedstock to produce recycled MMA (rMMA). rMMA produced by Trinseo will then be used in the development of circular PMMA solutions. PMMA is used in an array of markets, such as automotive and transportation, building and construction, sanitary ware, lighting and home appliances.

Depolymerization is a chemical recycling process by which PMMA waste can be recycled back into its monomer to yield truly circular products. It is a versatile process that can handle general PMMA waste and waste that is not fit for mechanical recycling in the categories of both PCR and PIR streams. PMMA products made from chemically recycled monomer are said to have the same properties as their virgin equivalent.

We remind, Trinseo, a specialty materials and sustainable solutions provider, and one of the largest producers of polystyrene in Europe, announced thecommercialization of its STYRON X-TECH™ 4660 Polystyrene Resins for Extruded Polystyrene (XPS). The material allows customers in the Building & Construction industry to reduce material consumption in foam insulation boards through Trinseo’s patented cross-linked polystyrene technology.

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LyondellBasell announced it has made a decision to move forward with engineering to build an advanced recycling plant at its Wesseling, Germany, said the company.

Using LyondellBasell's proprietary MoReTec technology, this commercial scale advanced recycling plant would convert pre-treated plastic waste into feedstock for new plastic production. The final investment decision is targeted for the end of 2023.

The previously announced German Joint Venture Source One Plastics will provide plastic waste feedstock to the plant. Source One Plastics is planning to build a facility designed to recycle the amount of plastic packaging waste generated by approximately 1.3 million German citizens per year. This plastic waste will consist of materials such as multi-layered food packaging items or mixed plastic containers that are typically not recycled today.

"We are actively working to move the circular economy forward. Progressing our MoReTec technology represents another step LyondellBasell is making to accelerate the development and implementation of scalable sustainable and circular technology", said Yvonne van der Laan, LyondellBasell Executive Vice President, Circular and Low Carbon Solutions. "This high yield, differential technology will allow us to convert plastic waste into pyrolysis oil and pyrolysis gas for use in our crackers as feedstock leading to the production of new plastic materials. Solid process residues can be re-used or consumed in other applications, making this technology an energy efficient, zero waste process for the recycling of plastic waste."

The start-up of the MoReTec recycling plant is planned for end of 2025 with a capacity of 50,000 tonnes per year. The feedstock produced will be converted at the LyondellBasell Wesseling site into new CirculenRevive polymers for use in applications such as food packaging and healthcare products.

We remind, Lyondell Basell Industries is evaluating expansion of propylene production capacity at its Channelview Complex near Houston. The potential expansion would involve building a new propylene facility using LyondellBasell's existing technology to convert ethylene into propylene for use in the production of polypropylene and propylene oxide. The related product lines are used to make everyday items such as flexible foam for mattresses, cosmetic packaging, electrical covering for 5G network infrastructure, plastic wrap for food packaging, medical syringes, vehicle bumpers, furniture upholstery and pipe for home plumbing, to name a few.

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Solvay and Orbia recently announced their entry into a joint venture framework agreement to create a partnership for the production of suspension-grade polyvinylidene fluoride (PVDF), creating the largest capacity in North Americam said the company.

As it is further stated in a press release, the joint venture will create the largest PVDF production facility for battery materials in the region. The total investment is estimated around 850 million USD, partially funded by a grant to Solvay from the U.S. Department of Energy for a total of 178 million USD.

With more than half of U.S. car sales projected to be electric by 2030, demand for lithium-ion batteries and PVDF, a thermoplastic fluoropolymer used as a lithium-ion binder and separator coating, is revving up. The Solvay-Orbia joint venture would fill a significant supply gap and will build upon favorable regulatory conditions promoting regional production and material security. Solvay, a global leader in PVDF, brings process technology and unparalleled global market know-how to this venture.

With a vertically-integrated value chain and material holdings, Orbia’s Fluorinated Solutions business Koura and Polymer Solutions business Vestolit will supply hydrofluoric acid, vinyl chloride monomer (VCM) and chlorine respectively. In combination, Solvay’s “Solef” PVDF innovations and Orbia’s raw material assets and production expertise will enable delivery of PVDF that optimizes energy storage efficiency by increasing battery energy-density, safety and power.

The total investment is estimated to be around USD850 million, and is expected to be funded in part by a grant awarded by the U.S. Department of Energy of $178 million to Solvay to build a facility in Augusta, Georgia. Solvay and Orbia intend to use two production sites, one for raw materials and the other for finished product, located in the southeastern United States. Both plants are expected to be fully operational by 2026. Commencement of the joint venture is subject to finalizing and entering into definitive agreements between the parties and satisfaction of customary conditions, including obtaining regulatory approvals.

As per MRC, Solvay is partnering with two companies to collect and re-use the limestone residues from its soda ash production in Rosignano, furthering the company’s commitment to continually optimize the efficiency and sustainability of its operations. Pending further tests, the new partnerships could accelerate the decrease of limestone residues released into the sea, building upon the action plan announced in September to invest in new technical solutions at the site.
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