Dutch Recycler Stiphout Plastics Files For Bankruptcy
LyondellBasell had a 50% stake in the company Stiphout Plastics, a plastics recycler based in the Netherlands, filed for bankruptcy in mid-December 2024.
The Montfort based mechanical recycler started operations in 2013 and, as of 2023, had a recycling capacity of 18,000 tonnes of plastic waste per year. The facility consisted of three recycling lines specialised in HDPE and PP household waste processing. It employed around 30 workers.
Stiphout Plastics is one of six Dutch plastics recyclers to close doors in 2024. Low recyclate prices, pushed lower by cheap imports, drove the company to breaking point, the company’s founder Eline Stiphout told Dutch press outlets.
In July 2023, LyondellBasell (LYB) had acquired a 50% stake in Stiphout Industries, the parent company of Stiphout Plastics.
Asked to comment on the bankruptcy, LYB said it was ‘disappointed by the current news’.
“LYB has learnt that Stiphout Plastics B.V. has filed for bankruptcy. In July 2023, LYB announced the acquisition of a 50% stake in Stiphout Industries B.V., the parent company of Stiphout Plastics B.V. This investment was aligned with our strategy to invest in recycling and plastic waste processing companies, and we are disappointed by the current news. Ending plastic waste and building a circular economy is one of the key pillars of LYB’s sustainability approach,” LYB told Sustainable Plastics.
Stiphout Plastics joins Blue Cycle, Vinylrecycling, Ioniqa, and Umincorp, amongst others, in filing for bankruptcy in the Netherlands.
As the plastics recycling industry moves into the fourth year of a low price environment, industry bodies continue to warn that crumbling EU competitiveness jeopardises the circular plastics transition.
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