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21st February 2018, Houston, TX/London/Akron, OH

A. Schulman acquired by LyondellBasell

The acquisition will allow LyondellBasell to serve high-growth end markets beyond the automotive sector.LyondellBasell, one of the largest plastics, chemicals and refining companies in the world, is to acquire Fairlawn, Ohio-headquartered A. Schulman, the plastic compounds, composites and powders manufacturer, for $2.25 billion.

The acquisition will create a new Advanced Polymer Solutions business with broad geographic reach, leading technologies and a diverse product portfolio. It creates a compounding business with combined revenue of $4.6 billion over the last 12 months.

LyondellBasell expects to capture $150 million in run-rate cost synergies within two years.

“The acquisition will allow us 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, LyondellBasell’s CEO. “The combined business will create significant value for our shareholders and customers.”

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