LyondellBasell completes acquisition of A. Schulman Inc
LyondellBasell, one of the largest plastics, chemicals and refining companies in the world, has announced it has completed the acquisition of A. Schulman, Inc., a leading global supplier of 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," 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 and Polybutene-1 resins.
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 going forward; Engineered composites, Powders and masterbatches.
"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."