Page 168 - CW E-Magazine (14-5-2024)

News from Abroad

CONSOLIDATION
Ineos closes acquisition of LyondellBasell’s ethylene

oxide & derivatives business

Ineos Oxide and LyondellBasell customers to co-locate and integrate
(LYB) have completed the sale of into an existing Ethylene Oxide &
LYB’s Ethylene Oxide & Derivatives Derivatives platform.”
(EO&D) business and associated pro-
duction facilities located in Bayport, Mr. Peter Vanacker, CEO, LYB
Texas to Ineos, the UK-based chemi- said, “This divestiture of the EO&D
cals giant. business demonstrates progress against
our company strategy and allows us to
Mr. Tobias Hannemann, CEO of focus on further strengthening our core
Ineos Oxide said, “We are pleased to businesses.”
complete this strategic acquisition in complements our existing ethanolamines
the US. Ineos Oxide is a leading pro- production facility in Plaquemine, The closing of the transaction fol-
ducer in Europe and this signifi cant Louisiana. “There is available land lows the completion of planned main-
step expands our Ethylene Oxide & on the Bayport site for Ineos’ growth tenance at the Bayport facility and
Derivatives business into the US, which aspiration. It is an ideal location to deve- satisfaction of regulatory and other
is the world’s largest market. It also lop our third-party business supporting customary closing conditions.

LyondellBasell-Genox Recycling jv opens plastics

recycling facility in China

LyondellBasell (LYB) has announ- lenRecover product portfolio. The jv Executive Vice President, Circular and
ced the opening of a plastics recyc- operates under the name Guangdong Low Carbon Solutions. Mr. Limin Fu,
ling plant in Zhaoqing, Guangdong Genox LyondellBasell New Material VP of LyondellBasell China’s Joint
Province in Southern China, set up Co. Ltd. “This jv is linked to LYB’s Venture Management and Polyolefi ns,
in a joint venture with Genox Recy- commitment to support a circular Chairman of the jv said, “This new
cling. The plant will use mechanical economy for plastics and is part of joint venture will help develop the
recycling technology to recycle plas- our strategy to expand our circular local plastics recycling infrastructure
tic waste and produce new polymers, polymer offering in China,” said in China and contribute to a circular
adding to the LyondellBasell Circu- Mr. Yvonne van der Laan, LyondellBasell economy”.

168 Chemical Weekly May 14, 2024

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