LyondellBasell and Genox launch plastics recycling joint venture in China

Last week, LyondellBasell and Genox Recycling opened a plastics recycling joint venture (JV) in Zhaoqing, Guangdong Province, China, which will operate under the name Guangdong Genox LyondellBasell New Materials Co., Ltd.

The facility will utilize mechanical recycling technology to recycle plastic waste and produce novel polymers for LyondellBasell's CirculenRecover product portfolio.

Yvonne van der Laan, Executive Vice President Circular and Low Carbon Solutions at LyondellBasell said: "The joint venture is linked to LYB’s commitment to supporting a circular economy for plastics and is part of our strategy to expand circular polymer products in China." "The partnership with Genox allows us to create local recycling solutions for customers and brand owners in China to support their ambitious goals."

Jingfa Jiang, Chairman of Genox Recycling Resources, said: "Genox continues to explore the industry value chain, and we are pleased to cooperate with LyondellBasell to leverage the strengths of both parties to lead the development of the plastic recycling industry. Together, we can accelerate the realization of a circular and low-carbon future."