LyondellBasell Closes SJS Plastiblends Buy
LyondellBasell has completed the acquisition of SJS Plastiblends, a polypropylene compounder based at Aurangabad, Maharashtra, India. The Rotterdam-headquartered petrochemicals and plastics giant managed from Texas said the buy paves the way for expansion into India’s growing automotive market.
The deal was announced in August of this year.
"This acquisition underscores our strategy of investing in growth projects that provide a competitive advantage in targeted markets and a strong return on assets," said LyondellBasell CEO Bhavesh (Bob) Patel.
The Aurangabad compounding plant has an annual capacity of around 12,000 t/y. Alongside its existing product lines, in future it will produce LyondellBasell's Hostacom glass fiber-reinforced, mineral filled and unfilled colored grades as well as its Hifax high impact thermoplastic olefins.
LyondellBasell claims to be the world's largest producer of PP compounds with an annual capacity of 1.2 million t/y. The company has supplied the Indian market – one of the world’s fastest growing – through imports and tolling arrangements since 2009.