In a deal that will double the size of its plastics business, LyondellBasell Industries is set to purchase rival A. Schulman Inc., according to Reuters. The chemicals maker says it will buy its smaller rival for $2.24 billion.
The purchase will reportedly double the size of its business that supplies plastic compounds to the packaging, electronics and building markets. The move will enable LyondellBasell to diversify its plastic compounding business, which largely serves the automobile parts market at present, according to Reuters. The deal is expected to close in the second half of 2018,
Read more about the deal here.
