LyondellBasell, 23 Oaks Investments Form JV To Build Plastic Waste Sorting And Recycling Facility

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LyondellBasell, 23 Oaks Investments Form JV To Build Plastic Waste Sorting And Recycling Facility

(RTTNews) - LyondellBasell Industries N.V. (LYB) and Germany's 23 Oaks Investments on Tuesday signed an agreement to create Source One Plastics, a joint venture that will build an energy efficient, advanced plastic waste sorting and recycling facility in Germany.

Using renewable energy from wind and biomass, the new unit is designed to process the amount of plastic packaging waste generated by approximately 1.3 million German citizens per year.

The Source One Plastics facility will produce processed waste that will provide a material part of the feedstock for an advanced recycling plant that LyondellBasell plans to build at its Wesseling, Germany, site.

Using LyondellBasell's proprietary MoReTec technology, this plant will be the first commercial scale, single-train advanced recycling plant, designed to demonstrate its capability for further scalability.

Once in operation, it will enable recycling of most types of plastic materials such as multi-layered food packaging items or mixed plastic containers. Both projects contribute to LyondellBasell's sustainability ambition to end plastic waste in the environment.

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UK House Prices Fall More Than Expected

UK House Prices Fall More Than Expected

UK house price declined more than expected in April following the end of stamp duty holidays, data from the Nationwide Building Society showed Wednesday. House prices logged a monthly drop of 0.6 percent after remaining flat in March. The decline was worse than economists' forecast of 0.1 percent. On a yearly basis, house price growth eased to 3.4 percent from 3.9 percent in the previous month.
RTTNews | il y a 54 minutes
NZ Dollar Advances Against Majors

NZ Dollar Advances Against Majors

The New Zealand dollar strengthened against other major currencies in the Asian session on Wednesday.
RTTNews | il y a 59 minutes
China Manufacturing Activity Shrinks On Weak Exports

China Manufacturing Activity Shrinks On Weak Exports

China's manufacturing activity contracted in April as tariff threats damped export orders, official purchasing managers' survey data from the National Bureau of Statistics revealed Wednesday. The official manufacturing PMI slid to 49.0 in April from 50.5 in March. This was the lowest score in 16 months and also remained below forecast of 49.7.
RTTNews | il y a 1h 18min
French Economy Recovers In Q1

French Economy Recovers In Q1

The French economy avoided a technical recession in the first quarter with a marginal expansion, official data revealed on Wednesday. Gross domestic product grew 0.1 percent from the fourth quarter, when the economy shrank 0.1 percent, flash data from the statistical office INSEE revealed. The rate came in line with expectations.
RTTNews | il y a 2h 37min
Sensex, Nifty Marginally Higher In Lackluster Trade

Sensex, Nifty Marginally Higher In Lackluster Trade

Indian shares struggled for director on Wednesday as investors watched the latest developments on the trade front and awaited key U.S. inflation data for additional clues on the Fed's rate trajectory.
RTTNews | il y a 4h 14min
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