LYONDELLBASELL
Acquisition of Malaysian compounding unit from Australia's PolyPacific / Exit from their JV
 PolyPacific says the Malaysia site produces the full range of PP compounds (Photo: PolyPacific) |
US polyolefin giant LyondellBasell (LYB, Houston, Texas; www.lyondellbasell.com) has announced the takeover of Malaysia’s PolyPacific Polymers (PPM, Port Klang; www.polypacific.com.au), a 25,000 t/y manufacturing facility for reinforced and modified polyolefin compounds that is a subsidiary of Australian compounder PolyPacific (Melbourne; www.polypacific.com.au). Located in Malaysia’s busiest port of Port Klang and only a short drive from the capital Kuala Lumpur, this plant currently serves the South East Asian market.
The facility is expected to undergo rebranding and name change. All 40 workers at the site are to be employed by LyondellBasell after the takeover, and it will continue to produce and supply products for ongoing contracts, an LYB spokesperson told Plasteurope.com. In addition to the acquisition, the US producer plans to exit the 50-50 JV with PolyPacific, which will then be wholly owned by Mirlex Australia.
Jim Guilfoyle, LYB’s executive VP for advanced polymer solutions and the supply chain, said, “We admire PolyPacific 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.”
PolyPacific was founded in 1980, while its Malaysian subsidiary and manufacturing facility were established in 1997, where it supports and supplies markets in Malaysia and Singapore with the complete range of PP compounds, according to the company. PolyPacific currently has offices in New Zealand and Indonesia, and exports to Asia, Africa, Europe and the Americas.
The facility is expected to undergo rebranding and name change. All 40 workers at the site are to be employed by LyondellBasell after the takeover, and it will continue to produce and supply products for ongoing contracts, an LYB spokesperson told Plasteurope.com. In addition to the acquisition, the US producer plans to exit the 50-50 JV with PolyPacific, which will then be wholly owned by Mirlex Australia.
Jim Guilfoyle, LYB’s executive VP for advanced polymer solutions and the supply chain, said, “We admire PolyPacific 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.”
PolyPacific was founded in 1980, while its Malaysian subsidiary and manufacturing facility were established in 1997, where it supports and supplies markets in Malaysia and Singapore with the complete range of PP compounds, according to the company. PolyPacific currently has offices in New Zealand and Indonesia, and exports to Asia, Africa, Europe and the Americas.
05.07.2021 Plasteurope.com [248022-0]
Published on 05.07.2021