A Schulman Lyondell
LyondellBasell has completed the acquisition of A. Schulman, Inc., in a move that more than doubles its existing compounding business.
The combined business will operate as a stand-alone Advanced Polymer Solutions segment, which, in addition to LyondellBasell's existing polypropylene compounding (PPC) assets and the A. Schulman assets, will broaden the company's reach into growing, 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 new Advanced Polymer Solutionssegment will include LyondellBasell’s ‘Catalloy’thermoplastic resins andPolybutene-1 resins, as well as new materials previously manufactured by A. Schulman that will also be included, such as 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."