Page 53 - Plastics News October 2018

BuSinESS nEwS

Asahi/America buys pipe, valve LyondellBasell acquires A.

maker Performance Plastics Schulman for $2.25bn

hermoplastic valve and pipe manufacturer Asahi/ yondellBasel, a provider of plastics, chemicals and
TAmerica, Inc.has acquired Louisiana-based fabrication Lrefining solutions, has completed the acquisition
shop Performance Plastics, Inc. The purchase will aid Asahi/ of US-based A. Schulman for about $2.25bn. Schulman
America in expanding its existing fabrication capabilities which is based in Akron of Ohio, supplies high-
and capacity, as well as broaden their engineered plastic performance plastic compounds, composites and resins
products and services offering. Performance Plastics was for use in various applications. The firm produces a
established in 2009 by Jason Roussel, who will continue to range of high-performance plastic compounds and
resins, which can be used in blowmolding, injection
molding and extrusion applications. The company
offers its products solutions to various ncluding
packaging, mobility, building and construction,
electronics and electrical, agriculture, personal
care and hygiene, sports, leisure and home, custom
services and others.
LyondellBasell CEO Bob Patel said: “This acquisition
builds upon our complementary strengths, creating
operate the 30,000-square-foot shop located in Gramercy, a substantial value proposition for our customers and
Louisiana. Roussel and his staff will add over 25 years of
thermoplastics experience to Asahi/America’s fabricated
services department. In addition to a fully-equipped
workshop for thermoplastic fabrication, Performance
Plastics provides a range of project planning services that
will complement Asahi/America’s products and training
programs. “Asahi/America has had a close relationship
with Performance Plastics over the last 10 years. We
recognize that our customers need more from their
materials supplier. They also require value-added services
in today’s fast-paced industrial and commercial markets.
This strategic acquisition will enable Asahi/America to be positioning the company for future growth in this space.
a stronger partner to our distribution network, as well as
the construction trades,” said Daniel S. Anderson, Asahi/ “Moving forward, our team is focused on a seamless
America’s president and chief executive officer. “We’re integration that captures opportunity and creates
very excited to become part of the Asahi/America family. exceptional value for our shareholders.” The acquired
This acquisition will provide synergy and excellent growth business will help LyondellBasell to double its existing
opportunity for our employees, as well as allowing our compounding business, and expand its presence
customers to continue to receive the service level and in the high-margin end markets such as electronic
expertise they have come to expect from Performance goods and packaging, construction materials and
Plastics,” said Jason Roussel, president of Performance automotive. The combined business will run as stand-
Plastics.The transaction was completed October 1 2018 alone Advanced Polymer Solutions reporting segment,
and, effective October 2 2018, the Louisiana facility will which includes LyondellBasell’s existing polypropylene
operate as Asahi/America, Inc. – PPI division. compounding (PPC) assets.

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