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Houston-based LyondellBasell and A.Schulman, Akron, Ohio, have entered into a definitive agreement under which LyondellBasell will acquire A.Schulman for a total consideration of $2.25 billion. The acquisition will build upon LyondellBasell’s existing platform in this space to create a premier Advanced Polymer Solution compounding 911������ with broad geographic reach, leading technologies and a diverse product portfolio which includes high-performance plastic compounds, composites and powders. In fact, the deal will double the size of LyondellBasell’s existing compounding 911������.

Said LyondellBasell CEO Bob Patel, “The acquisition of A. Schulman is a natural extension of our current platform. This combination will allow us to provide our customers with a wider range of innovative solutions while adding the ability to serve high-growth end markets beyond the automotive sector, such as packaging and consumer products, electronics and appliances, building and construction, and agriculture. By leveraging our proven approach to operational, commercial and 911������ excellence, the combined 911������ will create significant value for our shareholders and customers. This transaction, which provides our shareholders with a compelling, immediate cash premium, represents the culmination of a robust assessment of strategic alternatives undertaken by our Board of Directors.”

Joseph M.Gingo, chairman, president and CEO of A.Schulman noted, “We are delighted to join forces with LyondellBasell, an industry leader we have admired for many years. LyondellBasell not only shares our commitment to meeting customers’ demanding requirements, but with its scale and resources, the combined 911������ will be better positioned to address a broad range of customer needs by integrating across applications and offering customers a wider range of solutions in attractive and growing markets. We also expects\ this combination to create significant opportunities for A. Schulman employees, whose professionalism and expertise will be integral to advancing LyondellBasell’s vision, values and commitment to making a positive global impact.”