On August 21, LyondellBasell announced the completion of the acquisition of Schulman. The $ 2.25 billion acquisition created an industry-leading composites giant with total revenue expected to reach $ 4.6 billion.
The acquisition will more than double LyondellBasell’s existing compounding business and expand the company’s share of the growing high-margin end markets such as automotive, construction materials, electronics and packaging. Basel said its company is the largest producer of polypropylene composites and the largest licensor of polyolefin technology.