LyondellBasell, one of the world’s largest plastics, chemical and refining company, has recently completed the previously announced acquisition of the polypropylene (PP) compounding assets of Zylog Plastalloys Pvt. Ltd. (Zylog) in India. The company entered into a definitive agreement to acquire Zylog’s PP compounding assets in November 2015.
With the acquisition of Zylog’s manufacturing operations in Sinnar, Maharashtra, and Chennai, Tamil Nadu, LyondellBasell is now the third largest producer of PP compounds in India with an annual capacity of 44,000 metric tons (97 million pounds).
LyondellBasell will produce its Hostacom glass fiber-reinforced, mineral filled and unfilled colored grades as well as Hifax high impact thermoplastic olefins in addition to the already existing product lines offered at these sites. These compounds are used to manufacture automotive parts, home appliances and other products.
"Our investments in India demonstrate LyondellBasell’s continued focus on strategic growth projects that increase our competitive advantage and provide a strong return on assets," said Bhavesh (Bob) Patel, CEO and chairman of the management board of LyondellBasell. "We are proud of the high-quality products we provide to the automotive manufacturers, and our expansion in India underscores our commitment to meeting customer needs globally," he added.