LyondellBasell Industries N.V. (LYB - Free Report) announced that its Ferrara, Italy-based, MoReTec molecular recycling facility has successfully started operations. The company’s proprietary MoReTec advanced recycling technology is expected to convert post-consumer plastic waste to its molecular form and use it as a feedstock for new plastic materials.
LyondellBasell's key sustainability focus areas include the end of plastic waste in the environment and the progress of circular economy. The company’s advanced plastics recycling technology allows it to return higher volumes of plastic waste back into the value chain and produce new materials for high-quality applications. The new plastic materials developed by MoReTec technology can be used in various applications in the food packaging and healthcare items.
LyondellBasell is leveraging its global technology footprint. The company conducts base research for leading the polymers industry toward advanced plastics recycling. Its research and development teams in the United States, Germany and Italy are working to explore potential commercial-scale applications.
Further, the development of MoReTec technology is part of its commitment of plastics-to-plastics conversion. The technology will complement LyondellBasell's other circular solutions. This will minimize plastic waste and advance the circular economy.
Shares of LyondellBasell have lost 17.7% in the past year against the industry’s 3% rise.
Zacks Rank & Key Picks
LyondellBasell currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Kinross Gold Corporation (KGC - Free Report) , Eldorado Gold Corporation (EGO - Free Report) and Yamana Gold Inc. (AUY - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Kinross has an expected earnings growth rate of 100% for 2020. The company’s shares have surged 77.7% in the past year.
Eldorado Gold has an expected earnings growth rate of 2,325% for 2020. Its shares have returned 27.9% in the past year.
Yamana has an expected earnings growth rate of 76.9% for 2020. The company’s shares have soared 81.6% in the past year.
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