LyondellBasell has taken over A Schulman, a global supplier of high-performance plastic compounds, composites and powders. The acquisition more than doubles LyondellBasell's existing compounding business and broadens the company's reach into high-margin end markets such as automotive, construction materials, electronic goods and packaging.
LyondellBasell is one of the largest plastics, chemicals and refining companies.LyondellBasell has taken over A Schulman, a global supplier of high-performance plastic compounds, composites and powders. The acquisition more than doubles LyondellBasell's existing compounding business and broadens the company's reach into high-margin end markets such as automotive, construction materials, electronic goods and packaging.#
"This acquisition builds upon our complementary strengths, creating a substantial value proposition for our customers and positioning the company for future growth in this space," said Bob Patel, CEO of LyondellBasell. "Moving forward, our team is focused on a seamless integration that captures opportunity and creates exceptional value for our shareholders."
The acquisition more than doubles LyondellBasell's existing compounding business and broadens the company's reach into growing, high-margin end markets such as automotive, construction materials, electronic goods and packaging.
The combined business will operate as a stand-alone Advanced Polymer Solutions reporting segment. In addition to LyondellBasell's existing polypropylene compounding (PPC) assets and the A Schulman assets, the segment will include Catalloy thermoplastic resins – polymers that combine the advantages of polyolefins and elastomers, offering customers durable and flexible products for the automotive, packaging and construction industries; and Polybutene-1 resins – plastics that offer a combination of temperature resistance and strength and are used in modern water pipes, construction materials and re-closeable packaging.
New to LyondellBasell's product portfolio are several materials previously manufactured by A Schulman that will also be included in the Advanced Polymer Solutions segment. This include Engineered composites – lightweight, strong materials that are used in infrastructure, aerospace and automotive applications such as headlamps, Powders – specialty particle materials used in coatings, rotational molding, toll compounding and other technical applications, and Masterbatches – colouring and additive materials used in the production of paper, paint and plastic goods around the world.
"With the combination of LyondellBasell's vertically integrated polypropylene compounding business and A Schulman's agile customer focus across broad and growing markets, Advanced Polymer Solutions is well positioned to deliver significant value for our customers and our shareholders," said Jim Guilfoyle, executive vice president, Advanced Polymer Solutions and Global Supply Chain for LyondellBasell. "I'm convinced we have all of the ingredients to build a world-class business that will reach a multitude of markets with a full range of innovative, tailored products and solutions." (SV)
Fibre2Fashion News Desk – India
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