LyondellBasell inks agreement with Hyundai Engg Plastics for manufacturing two compounds

LyondellBasell Industries, has signed a tolling and marketing agreement with Hyundai Engineering Plastics for manufacturing two latest-generation compounds using LyondellBasell's proprietary technology and formulations. The products would be manufactured at the HEP plant in Chennai, while LyondellBasell would have exclusive marketing rights for these products, targeted towards automotive applications. "This cooperation enables us to supply our Indian automotive and appliance customers with locally manufactured, high-performance and high-quality compounds which will increase their competitiveness in fast-growing Indian market," LyondellBasell vice president (Asia-Pacific Compounding Business) Frank Noeltgen said. The arrangement extends cooperation between the two companies, initiated in 2006 and under which LyondellBasell produces, markets and sells HEP's Supol materials in North America and Europe.
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