As one of the world's largest plastics, chemicals and refining companies, Lyondell Basel announced on August 21 that it has completed the acquisition of Schulman (Fairlawn, Ohio). Shulman is a leading global supplier of high-performance plastic blends, composites and powders. According to reports, this $ 2.25 billion transaction created an industry-leading compounding giant with total revenue of $ 4.6 billion.
Bob Patel, CEO of Ryan De Basel, said: "This acquisition builds on our complementary strengths, creates a substantial value proposition for our customers, and positions the company's future development in this area. In the future, Our team focuses on seamless integration, seizing opportunities and creating extraordinary value for shareholders. "
Shulman shareholders approved the merger at a special shareholder meeting on June 14. The company has factories, offices, and technology centers in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific region, covering a wide range of services including agriculture, construction and construction, electronics and electrical, mobile, packaging, personal care / hygiene, sports And leisure and custom services.
The acquisition more than doubles Lyondell Basel's existing composites business and expands the company's share of the growing high-margin end markets such as automotive, construction materials, electronics and packaging. Ryan de Basel says its company is the largest producer of polypropylene composites and the largest licensor of polyolefin technology.
According to Leander Basel, the combined business will operate as a separate advanced polymer solutions reporting unit. In addition to Lyondell Basel's existing polypropylene composite assets and Schulman assets, the unit will also include Catalloy thermoplastic resins, which combine the advantages of polyolefins and elastomers for durable, automotive, packaging and construction industries, Flexible products; and polybutene-1 resins, which provide temperature resistance and high strength in applications such as water pipes, building materials, and resealable packaging.