Chemicals maker LyondellBasell Industries is buying rival A. Schulman Inc. for US$2.25 billion, doubling the size of its business that supplies plastic compounds to the packaging, electronics, and building markets.
The deal creates a compounding business with combined revenue of US$4.6 billion over the last 12 months, and boosts LyondellBasell’s exposure to the agricultural sector, which has been the focus of a large number of deals among chemicals makers. LyondellBasell’s plastic compounding business largely caters to the automobile parts market; auto-end markets currently account for about 90 per cent of LyondellBasell’s plastic compounding revenue and that will drop to just over 50 per cent after the deal closes.
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