Dutch PVC recycler to file for bankruptcy

Market: Petrochemicals
14/11/24

Dutch PVC recycler Vinylrecycling will file for bankruptcy on 19 November after a legal battle with the Dutch government over clarifications regarding PVC waste exports.

The company recycles 20,000-30,000 t/yr of PVC waste. Vinylrecycling has been in a prolonged legal battle with the Netherlands Human Environment and Transport Inspectorate (ILT) over exports to third countries including Guatemala, India and Algeria of what the ILT described as "PVC waste" but the company declared to be "raw material". The ILT then restricted exports for Vinylrecycling and fined the company. Vinylrecycling has been appealing this decision, with a judgment expected by 1 January, but the company said "some creditors no longer have the patience to wait," and the company will be filing for bankruptcy.

"The Council of State is expected to issue its verdict, hopefully before January 1, but that might be too late for our company. No one will step in to take on the 20,000 to 30,000t of PVC we recycle, so I'm concerned it may all end up in a landfill," chief executive of Vinylrecycling Huib van Gulik told Argus.

"Although rebuilding our company will be a complex task, we will speak with the trustee to explore whether a restart is possible or if we will contest the bankruptcy," the company added.

"Vinylrecycling warmly invites potential investors, strategic partners, and other interested parties to discuss a restart and/or a contestation of the bankruptcy with us or, later, with the trustee," the company said.

Vinylrecycling produces regrind, granulate and micronised powder rPVC.

By George Barsted

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24/12/24

Viewpoint: US BD demand awaits 1Q rebound as risks loom

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Viewpoint: US LPG cargo premiums poised to fall

23/12/24

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23/12/24

Viewpoint: US LPG cargo premiums poised to fall

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Viewpoint: Protectionist policies muddy US PE outlook

23/12/24

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23/12/24

Viewpoint: Protectionist policies muddy US PE outlook

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Viewpoint: rHDPE packaging grade demand solid into 2025

18/12/24

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18/12/24

Viewpoint: rHDPE packaging grade demand solid into 2025

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Viewpoint: EU PVC margins to hold below average in 2025

18/12/24

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18/12/24

Viewpoint: EU PVC margins to hold below average in 2025

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