LyondellBasell, one of the largest plastics, chemicals and refining companies in the world, announced it has acquired 100 percent of PolyPacific Polymers Sdn. Bhd. (PPM) in Port Klang, Malaysia.
PPM is a 25kt manufacturing facility producing reinforced and modified polyolefin compounds.
Upon completion of the acquisition, the facility will undergo a rebranding and name change, and its employees will become LyondellBasell employees. PPM will continue to produce and supply the ongoing business products to its customers.
"We admire PolyPacific Pty. Ltd 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" said Jim Guilfoyle, Executive Vice President, Advanced Polymer Solutions and Supply Chain, LyondellBasell. "We welcome our new employees to the LyondellBasell family."
In conjunction with the acquisition, LyondellBasell will exit the PolyPacific, a 50:50 joint venture, which will become 100 percent owned by Mirlex Pty Ltd. "We look forward to the future as an independent wholly-owned Australian compounder," said Lindsey Hogg, who will continue as Managing Director. "We wish our loyal, capable and trusted colleagues at PPM a well-deserved future with LyondellBasell."
