LyondellBasell (Rotterdam / The Netherlands; www.lyondellbasell.com) has completed the acquisition of PP compounds manufacturer SJS Plastiblends (Aurangabad, Maharashtra / India; www.sjsplastiblends.com). The deal was announced in August 2015 – see Plasteurope.com of 11.08.2015 – and will extend LyondellBasell’s position in India’s expanding automotive market.

India is the fourth largest growth market for automobiles globally with 3m new vehicles produced each year. According to US market researchers, India’s automotive market is expected to continue growing by 6% to 8% annually up to 2021. The World Bank has predicted India’s GDP to growth rate to reach 8% by 2017.

In addition to the existing 12,000 t/y production at the Aurangabad PP compounding plant, the facility will produce LyondellBasell’s “Hostacom” glass fibre-reinforced, mineral filled and unfilled coloured grades and “Hifax” high impact thermoplastic olefins, used in the manufacture of automotive parts, home appliances and in other applications.

LyondellBasell CEO, Bob Patel, said: “This acquisition underscores our strategy of investing in growth projects that provide a competitive advantage in targeted markets and a strong return on assets.”