MOSCOW (MRC) -- LyondellBasell, one of the largest plastics, chemicals and refining companies in the world, has announced it has acquired 100% of PolyPacific Polymers Sdn. Bhd. (PPM) in Port Klang, Malaysia, as per the company's press release.
PPM is a 25kt manufacturing facility producing reinforced and modified polyolefin compounds.
Upon completion of the acquisition, the facility will undergo a rebranding and name change, and its employees will become LyondellBasell employees. PPM will continue to produce and supply the ongoing business products to its customers.
"We admire PolyPacific Pty. Ltd for the business and reputation they established over the past four decades, and wish them well as they continue to operate their Australian compounding business in Melbourne. We are excited to capture the value of PPM within our APS Asian footprint" said Jim Guilfoyle, Executive Vice President, Advanced Polymer Solutions and Supply Chain, LyondellBasell. "We welcome our new employees to the LyondellBasell family."
In conjunction with the acquisition, LyondellBasell will exit the PolyPacific, a 50:50 joint venture, which will become 100% owned by Mirlex Pty Ltd.
As MRC informed earlier, LyondellBasell reported an equipment failure at its La Porte linear low density polyethylene (LLDPE) plant, which forced the company to shut down the 355,000 tons/year unit without a return schedule, according to the company's official letter to its customers on 17 June 2021. LyondellBasell is currently evaluating the impact of the event on its ability to supply the materials.
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 744,130 tonnes in the first four month of 2021, up by 4% year on year. Shipments of all PE grades increased. At the same time, PP deliveries to the Russian market were 523,900 tonnes in January-April 2021, up by 55% year on year. Supply of homopolymer PP and PP block copolymers increased, whereas shipments of PP random copolymers decreased.
LyondellBasell is one of the largest plastics, chemicals and refining companies in the world. Driven by its 13,000 employees around the globe, LyondellBasell produces materials and products that are key to advancing solutions to modern challenges like enhancing food safety through lightweight and flexible packaging, protecting the purity of water supplies through stronger and more versatile pipes, and improving the safety, comfort and fuel efficiency of many of the cars and trucks on the road. LyondellBasell sells products into approximately 100 countries and is the world's largest licensor of polyolefin technologies.
MRC