In a deal the financial details of which were not disclosed, LyondellBasell Industries (LBI, Rotterdam / The Netherlands; www.lyondellbasell.com) on 7 August signed a definite agreement to acquire SJS Plastiblends (Aurangabad, Maharashtra / India; www.sjsplastiblends.com). The transaction is expected to close later this year.

Founded in 1996, the Indian company produces PP compounds for the automotive and home appliances markets. It employs some 60 workers and is capable of turning out about 12,000 t/y of compounds at its plant, located 400 km northeast of Mumbai. Until the takeover is complete, SJS will conduct business as usual, the Dutch group said. LBI added that the purchase will not only expand its capacities in India, but also afford it a larger footprint in the country’s growing automotive plastics market. The group said the subcontinent is the world’s fourth largest growth market for automobiles, with 3m new vehicles produced each year, and growth rates of 6-8% per annum in the lead-up to 2012.

LBI does not have any manufacturing plants in India. The group has been serving this particular market through imports and tolling arrangements since 2009.