1 October 2015
DETAILS
today announced
the acquisition of
SJS Plastiblends Pvt. Ltd. (SJS),
thereby advancing the Company's position in
India's expanding automotive market.
In August, LyondellBasell announced a definitive agreement
to acquire SJS, a polypropylene (PP) compounds manufacturer
located in Aurangabad, Maharashtra, India.
The Aurangabad compounding plant has
an annual production capacity of
approximately 12,000 metric tons (26 million pounds).
In addition to the already existing product lines, the facility
will produce LyondellBasell's
* Hostacom glass fiber-reinforced,
* mineral filled and unfilled colored grades as well as
* Hifax high impact thermoplastic olefins.
These products are used in the manufacture of
automotive parts, home appliances and other applications.
Bhavesh (Bob) Patel,
CEO and Chairman of the management board of LyondellBasell
"This acquisition underscores our strategy of investing
in growth projects that provide a competitive advantage
in targeted markets and a strong return on assets,"
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.
LyondellBasell is the world's largest producer of PP compounds
with an annual capacity of 1.2 million metric tons
(2.4 billion pounds).
LyondellBasell has supplied the Indian market
through imports and tolling arrangements since 2009.
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