 "LyondellBasell to buy Indian PPC maker in automotive push")
LyondellBasell Industries will buy polypropylene compounds (PPC) maker SJS Plastiblends, the companies said on Monday, as the plastics and chemicals maker sought a greater share in India's growing automotive market.
The transaction is expected to close later this year, the companies said, without disclosing financial details.
"This acquisition will expand our global PPC manufacturing footprint and allow us to better compete in the long-term growth of India's automotive market," LyondellBasell Chief Executive Bhavesh Patel said in a statement.
SJS, based in the western state of Maharashtra, has an annual manufacturing capacity of about 12,000 tonne of polypropylene compounds, used in everything from car parts to home appliances.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app