LyondellBasell to Acquire SJS Plastiblends; Financial Terms Not Disclosed

LyondellBasell

oday announced that it has entered into a definitive agreement for the acquisition of  SJS Plastiblends Pvt. Ltd. (SJS), a polypropylene compounds (PPC) manufacturer, located in Aurangabad, Maharashtra, India. This strategic acquisition will expand LyondellBasell's existing footprint in India and further enhance the Company's position in India's growing automotive market. "This acquisition will expand our global PPC manufacturing footprint and allow us to better compete in the long-term growth of India's automotive market," said Bhavesh V. (Bob) Patel, CEO and Chairman of the Management Board of LyondellBasell. "We are very proud of the strong, global reputation we have built by manufacturing high-quality products and providing excellent service to our customers. We look forward to continuing this tradition in India through this expansion."   Globally, India represents the fourth largest growth market for automobiles, with three million new vehicles produced each year. According to IHS Inc., India's automotive market is expected to continue growing by six to eight percent annually through 2021. LyondellBasell has supplied the Indian market through imports and