LyondellBasell acquires PP compounding business Zylog Plastalloys

LyondellBasell acquires PP compounding business of Zylog Plastalloys

11:52 AM, 30th November 2015
LyondellBasell acquires PP compounding business of Zylog Plastalloys
Bhavesh (Bob) Patel, chairman and CEO, management board, LyondellBasell. (File photo)

HOUSTON, US/LONDON, UK: Basell Polyolefins India Pvt Ltd, a wholly-owned subsidiary of LyondellBasell industries NV, has agreed to acquire the polypropylene (PP) compounding assets of Zylog Plastalloys Pvt Ltd in India. The transaction is expected to close in early 2016.

LyondellBasell will double its automotive customer base in India and become the third largest producer of PP compounds in the country with an annual capacity of 44,000 metric tonne (97 million pounds). It will acquire Zylog’s manufacturing sites in Sinnar, Maharashtra and Chennai, Tamil Nadu.

Earlier this year, LyondellBasell acquired SJS Plastiblends Pvt Ltd, a manufacturer of PP compounds located in Aurangabad, Maharashtra, India.

We are optimistic about India’s economic growth and rapidly expanding automotive market,” said Bhavesh (Bob) Patel, chairman and CEO, management board, LyondellBasell. “The acquisition of SJS and Zylog are part of our plan to strategically expand our footprint where it makes sense from an economic and strategic perspective.”

India represents the fourth largest growth market for automobiles globally with 3 million new vehicles produced each year. According to IHS Inc India’s automotive market is expected to continue growing by 6 to 8 percent annually through 2021. Additionally, the World Bank has predicted India’s GDP to grow at a rate of 8 percent by 2017.

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