LyondellBasell Completes Acquisition of A. Schulman
LyondellBasell, Houston, has completed the acquisition of A. Schulman, Fairlawn, Ohio., and has formed the Advanced Polymer Solutions compounding business. The new business segment builds on LyondellBasell’s existing platform—in effect doubling the size of its compounding business, with broad geographic reach, leading technologies and a diverse product portfolio which includes high-performance plastic compounds, composites and powders.
“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. Moving forward, our team is focused on a seamless integration that captures opportunity and creates exceptional value for our shareholders,” said Bob Patel, CEO of LyondellBasell.
The combined Advanced Polymer Solutions business has been set up to operate as a stand-alone reporting segment. In addition to LyondellBasell’s existing PP compounding assets and the A. Schulman assets, the segment will include: Catalloy TPOs used in the production of durable and flexible products for the automotive, packaging and construction industries; and, Polybutene-1 resins, said to offer a combination of temperature resistance and strength for use in modern water pipes, construction materials and re-closeable packaging
New to LyondellBasell’s product portfolio are several materials previously manufactured by A. Schulman, including: engineered thermoplastic composites used in infrastructure, aerospace and automotive applications such as headlamps; powders used in coatings, rotational molding, toll compounding and other technical applications; and, color and additive masterbatches used in the production of paper, paint and plastic goods.
“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. 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,” said Jim Guilfoyle, Executive Vice President, Advanced Polymer Solutions and Global Supply Chain for LyondellBasell.
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