"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.
Advanced Polymer Solutions segmentThe 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
- 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
- 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
- Masterbatches - coloring and additive materials used in the production of paper, paint and plastic goods around the world