LyondellBasell has completed the $2.25bn acquisition of high-performance plastic compounds, composites and powders supplier A Schulman, the Netherlands-domiciled chemical major announced on Tuesday.
The acquisition, according to LyondellBasell, more than doubles the company’s existing compounding business and broadens its reach into growing, high-margin end markets such as automotive, construction materials, electronic goods and packaging.
“This acquisition builds upon our complementary strengths, creating a substantial value proposition for our customers and positioning the company for future growth in this space,” said Bob Patel, CEO of LyondellBasell.
“Moving forward, our team is focused on a seamless integration that captures opportunity and creates exceptional value for our shareholders.”
The combined business will operate as a stand-alone Advanced Polymer Solutions reporting segment.
In addition to the company’s existing propylene compounding assets and the A Schulman assets, the segment will include catalloy thermoplastic resins and polybutene-1 resins.
Also included in the advanced polymers solutions segment will be engineered composities, powders, and masterbatches, which are all new to LyondellBasell’s product portfolio.
“With the combination of LyondellBasell’s vertically integrated polypropylene compounding business and A Schulman’s agile customer focus across broad and growing markets, Advanced Polymer Solutions is well positioned to deliver significant value for our customers and our shareholders,” said Jim Guilfoyle, executive vice president for LyondellBasell’s Advanced Polymer Solutions and Global Supply Chain segment.
“I’m convinced we have all of the ingredients to build a world-class business that will reach a multitude of markets with a full range of innovative, tailored products and solutions.”
By Niall Swan
Source: ICIS News
France has launched an offshore green hydrogen production platform at the country’s Port of Saint-Nazaire this week, along with its first offshore wind farm. The hydrogen plant, which its operators say is the world’s first facility of its type, coincides with the launch of another “first of its kind” facility in Sweden dedicated to storing hydrogen in an underground lined rock cavern (LRC).
The project sets up the Hydrogen Valley in Rome, the first industrial-scale technological hub for the development of the national supply chain for the production, transport, storage and use of hydrogen for the decarbonization of industrial processes and for sustainable mobility.
At first glance, hydrogen seems to be the perfect solution to our energy needs. It doesn’t produce any carbon dioxide when used. It can store energy for long periods of time. It doesn’t leave behind hazardous waste materials, like nuclear does. And it doesn’t require large swathes of land to be flooded, like hydroelectricity. Seems too good to be true. So…what’s the catch?
