Stiphout Plastics, a plastic recycling company based in the Netherlands, declared bankruptcy in mid-December 2024. Located in Montfort, the company had been in operation since 2013 and had achieved a recycling capacity of 18,000 tpy of plastic waste. The plant featured three recycling lines specialising in processing HDPE and PP household waste and employed approximately 30 workers.

Stiphout Plastics is one of six Dutch plastic recyclers that ceased operations in 2024. According to the company’s founder, Eline Stiphout, the primary cause of the bankruptcy was low prices for recyclates, compounded by competition from cheap imports. In July 2023, LyondellBasell (LYB) acquired a 50% stake in Stiphout Industries, the parent company of Stiphout Plastics.

In response to inquiries about the bankruptcy, LYB expressed its disappointment:

’LYB has learned that Stiphout Plastics B.V. has declared 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 plastic waste recycling and processing companies, so we are disappointed with the current situation. Eliminating plastic waste and building a closed-loop economy are key pillars of LYB’s approach to sustainability,’ the company stated in a message to the Sustainable Plastics portal.

Stiphout Plastics joins other companies, such as Blue Cycle, Vinylrecycling, Ioniqa, and Umincorp, which also declared bankruptcy in the Netherlands in 2024. As the plastics recycling industry faces its fourth consecutive year of low recyclable prices, industry organisations warn that the declining competitiveness of the European sector could jeopardise the transition to a closed-loop economy.