LyondellBasell to take over plastics compound supplier A. Schulman

LyondellBasell, one of the largest plastics, chemicals and refining companies in the world, and A. Schulman, a leading global supplier of high-performance plastic compounds, composites and powders, have entered into a definitive agreement under which LyondellBasell will acquire A. Schulman for US$2.25 billion. The agreement is subject to customary closing conditions, including regulatory approvals and approval by A. Schulman shareholders. The acquisition is expected to close in the second half of 2018.

The acquisition builds upon LyondellBasell's existing platform in this space to create a premier Advanced Polymer Solutions business with broad geographic reach, leading technologies and a diverse product portfolio.

"The acquisition of A. Schulman is a natural extension of our current platform. 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.

Joseph M. Gingo, Chairman, President and Chief Executive Officer of A. Schulman commented: “ We also expect this combination to create significant opportunities for A. Schulman employees, whose professionalism and expertise will be integral to advancing LyondellBasell's vision, values and commitment to making a positive global impact."

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