LyondellBasell acquire polypropylene compounds maker in India

LyondellBasell to acquire polypropylene compounds maker in India

6:34 PM, 10th August 2015
LyondellBasell to acquire polypropylene compounds maker in India

HOUSTON, US/LONDON, UK: LyondellBasell Industries NV said that it has agreed to acquire  SJS Plastiblends Pvt Ltd (SJS), a polypropylene compounds (PPC) manufacturer, located in Aurangabad, Maharashtra, India. This strategic acquisition will expand LyondellBasell’s existing footprint in India and further enhance the company’s position in India’s growing automotive market.

The transaction is expected to close in late 2015. This acquisition will follow the company’s strategic growth model by enhancing its competitive position in attractive markets.

“This acquisition will expand our global PPC manufacturing footprint and allow us to better compete in the long-term growth of India’s automotive market,” said Bhavesh (Bob) Patel, CEO and chairman, management board, LyondellBasell.

Globally, India represents the fourth largest growth market for automobiles, with three million new vehicles produced each year. According to IHS Inc, India’s automotive market is expected to continue growing by six to eight percent annually through 2021. LyondellBasell has supplied the Indian market through imports and tolling arrangements since 2009.

Until the transaction is complete, SJS will conduct business as usual, LyondellBasell said.

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