Page 53 - Plastics News August 2026
P. 53
BUSINESS NEWS
Vigolo, will continue to manage the company as
a subsidiary within the HEXPOL structure. The
operations include two well-invested production
sites in Italy, as well as a state-of-the-art R&D
center. Peter Rosén, acting CEO and CFO, said,
"The acquisition of Vipa Group marks an impor-
tant step in executing the growth strategy for the
new business area Thermoplastic Compounding
that was presented at our Capital Markets Day
in November 2025. It also demonstrates our am-
bition to build a leading thermoplastics platform
through both organic growth and acquisitions.
Vipa Group brings leading positions in Wire &
Cable, strong material expertise and exposure
to long-term structural growth drivers such as
family, who founded the company in 1969 and electrification and data centers. The acquisi-
has since then developed the business into a tion price amounts to 143.5 MEUR on a cash and
true specialty compounder with above market debt-free basis and is funded by a combination
profitability. The Paolini family will support the of bank facilities and cash. The acquisition is ex-
transition to HEXPOL ownership during a peri- pected to close during the third quarter of 2026.
od of 18 months while the current CEO, Nicola
Lyondellbasell Writes Off $74 Million Investment
In The Houston Cyclyx
yondellBasell fully wrote off its $74 million The company reported at $559 million (or $1.71
investment in the Houston Cyclyx Circu- per share). Unadjusted net income was heavily
Llarity Center plastic waste sorting project weighed down by an $842 million post-tax im-
during the second quarter of 2026, reducing pact from identified items, primarily a $734 mil-
the carrying value of the joint venture to zero. lion pre-tax loss on the divestiture of four Euro-
While the Houston Cyclyx plant faced a finan- pean Olefins & Polyolefins (O&P) assets.Its Sales
cial write-down, LyondellBasell is actively scaling and Revenue reached $9.18 billion, marking a
up several other international and commercial 20% increase year-over-year from $7.66 billion
circularity platforms. LyondellBasell recorded in Q2 2025. The Company’s EBITDA jumped
the $74 million pre-tax impairment as part of 197% to $2.13 billion (excluding identified items),
its second-quarter 2026 financial updates. Ly- up from $715 million in the prior year's quarter.
ondellBasell remains a 50% owner of the Hou- Concurrently, the company is shifting its plastic
ston Cyclyx sorting plant despite the zero-value recycling strategy toward wholly-owned assets
carrying adjustment. LyondellBasell reported a and proven technologies. The decision reflects a
massive rebound in its broader Q2 2026 finan- slower-than-anticipated pace for circular econo-
cial results, driven by global supply chain disrup- my investments in the United States and a cau-
tions that heavily expanded its core margins. tious capital allocation strategy.
August 2026 PLASTICS NEWS 57
