LyondellBasell Expands in India
LyondellBasell, a plastics, chemical and refining company, announced the acquisition of SJS Plastiblends Pvt. Ltd., a polypropylene (PP) compounds manufacturer located in Aurangabad, Maharashtra, India, thereby advancing the company's position in India's expanding automotive market.
The Aurangabad compounding plant has an annual production capacity of approximately 12,000 t (26 million pounds). In addition to the already existing product lines, the facility will produce LyondellBasell's Hostacom glass fiber-reinforced, mineral filled and unfilled colored grades as well as Hifax high impact thermoplastic olefins. These products are used in the manufacture of automotive parts, home appliances and other applications. The LyondellBasell Aurangabad manufacturing facility is owned and operated by Basell Polyolefins India Pvt. Ltd., a wholly-owned subsidiary of LyondellBasell.
LyondellBasell is the world's largest producer of PP compounds with an annual capacity of 1.2 million t (2.4 billion pounds). LyondellBasell has supplied the Indian market through imports and tolling arrangements since 2009.
India represents the fourth largest growth market for automobiles globally with 3 million new vehicles produced each year. According to IHS Inc., India's automotive market is expected to continue growing by 6 to 8 % annually through 2021. Additionally, the World Bank has predicted India's GDP to grow at a rate of 8 % by 2017.
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