LyondellBasell to Acquire Specialty Powders Producer

Chemicals, refining and plastics firm LyondellBasell is strengthening the position of its plastic compounding business with a planned $2.25 billion acquisition of Akron, OH-based plastics and specialty powders manufacturer A. Schulman, a press release announced Thursday.

“This combination will allow us to provide our customers with a wider range of innovative solutions while adding the ability to serve high-growth end markets beyond the automotive sector, such as packaging and consumer products, electronics and appliances, building and construction, and agriculture,” said Bob Patel, chief executive officer of LyondellBasell, in a statement.

The purchase of the Ohio company doubles the LyondellBasell’s compounding business and offers its Advanced Polymer Solutions business a wider geographical range, additional technologies, and an expanded product portfolio.

Previously approved by the boards of both companies, the transaction is subject to the approval of regulators and the shareholders of A. Schulman. The companies expect the deal to close in the second half of this year.

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