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LANXESS and bp partner on sustainable renewable raw materials for high-tech plastics production

October 14/2021

MOSCOW (MRC) -- Specialty chemicals company LANXESS and energy company bp are entering into a strategic partnership for the use of sustainable raw materials in high-tech plastics production, as per LANXESS' pres release.

bp will supply sustainably produced cyclohexane to the LANXESS production site in Antwerp, Belgium, starting in the fourth quarter of 2021. The sustainable origin of the raw materials is certified according to ISCC Plus rules (International Sustainability and Carbon Certification).

With this partnership, both companies, which already have a long-standing business relationship, want to significantly advance the production of sustainable plastics.

The chemical industry plays an important role in the expansion of the circular economy and efficient sustainable management. To meet the global challenges of climate change, creative approaches to solutions and collaboration are needed in service of our customers. We are pleased to accompany LANXESS as a strong partner with a broad portfolio of raw materials from renewable sources, says Wolfgang Stuckle, Vice President Midstream Refining and Specialities Solutions Europe and Africa of bp. bp uses bio-based and bio-circular feedstocks for the production of green cyclohexane. These can be, for example, rapeseed oil or biomass.

High-performance plastics are the solution for many sustainable products, for example in various e-mobility applications. It is now important to also make the production of this valuable material sustainable. In this context, the use of bio-based raw materials, along with modern recycling processes, is a key lever. We are delighted to have bp as a strategic partner at our side, says Marcel Beermann, Head of Global Procurement and Logistics at LANXESS.

LANXESS uses cyclohexane as a precursor in the production of polyamide 6, a high-performance plastic that is used primarily in the automotive industry as well as in the electrical and consumer goods industries.

As MRC reported earlier, LANXESS completed the second-largest acquisition in its history on August 3, 2021, with the takeover of Emerald Kalama Chemical. The US-based specialty chemicals manufacturer was majority-owned by affiliates of private equity firm American Securities LLC. All required regulatory approvals have been received. The enterprise value of Emerald Kalama Chemical was USD1.075 billion (EUR 900 million). After deducting liabilities, the purchase price was approximately USD 1.04 billion (EUR870 million), which LANXESS financed from existing liquidity.

LANXESS is a leading specialty chemicals company with about 19,200 employees in 25 countries. The company is currently represented at 74 production sites worldwide. The core business of Lanxess is the development, manufacturing and marketing of chemical intermediates, additives, specialty chemicals and plastics. Through Arlanxeo, the joint venture with Saudi Aramco, Lanxess is also a leading supplier of synthetic rubber.

bp is one of the world's largest oil and gas companies, serving millions of customers every day in around 80 countries, and employing around 85,000 people. bps business segments are Upstream (oil and gas exploration & production), and Downstream (refining & marketing). Through these activities, bpP provides fuel for transportation; energy for heat and light; services for motorists; and petrochemicals products for plastics, textiles and food packaging. It has strong positions in many of the world's hydrocarbon basins and strong market positions in key economies.


mrcplast.com
Author:Margaret Volkova
Tags:bioplastics, compounding, car components, petrochemistry, recikling, electrical goods, poliamid, BP Plc, Lanxess, sustainable development, Belgium.
Category:General News
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