LyondellBasell acquired mechanical recycling assets with rigid plastics recycling processing lines from PreZero, arecycling and waste management service provider.

The transaction includes leasing the processing facility in Jurupa Valley,California, the US.The processing facility holds annual production capacity of about 50million pounds for recycled materials.

LyondellBasell will operate the newly-acquired recycling plant to manufacture post-consumer recycled resins using plastic waste feedstock. The company will offer these recycled polymers under its CirculenRecover brand which en-able circular economy

LyondellBasell will build upon its existing experience in plastic recycling in Europe and deliver a state-of-the-art, me-chanical recycling facility to meet growing demand for recycled products in the US.

"This acquisition further strengthens our U.S.presence and will deliver value for our customers and plastic recycling rates in the West Coast,"said Yvonne van der Laan, executive vice president,Circular and Low Carbon Solutions.