<article><p class="lead">Netherlands-based chemical group LyondellBasell has entered a definitive agreement to acquire the polypropylene (PP) compounding assets of Indian plastic manufacturer Zylog Plastalloys, doubling its automotive customer base in India.</p><p>The acquisition adds to LyondellBasell's purchase of another Indian PP compounder — SJS Plastiblends — in August, and will make the company India's third largest PP compound manufacturer with annual production capacity of 44,000 t/yr.</p><p>LyondellBasell produces 1.2mn t/yr of PP compounds globally. These have a number of applications, including the automotive industry which is a focus for the company.</p><p>Chief executive Bhavesh Patel said LyondellBasell is very optimistic about India's rapidly expanding automotive market, and said the acquisitions will make LyondellBasell a leading PP compound manufacturer in all the world's major automotive growth regions.</p><p>The transaction is expected to be completed in early 2016. Following completion, Zylog will continue to manufacture and market thermoplastic vulcanizates (TPVs) and thermoplastic elastomers (TPEs).</p></article>
