Zylog, one of India’s leading polyolefin compounding company has entered into a definitive agreement to sell its polypropylene (PP) compounding assets to LyondellBasell, one of the world's largest plastics, chemical and refining companies. "With this acquisition, LyondellBasell would have the opportunity to substantially expand its footprint in Indian automotive sector, getting immediate access to all major automotive OEs and leading Tier I customers, that Zylog has been servicing over the years”, says Aschak Damani, Executive Director, Zylog Plastalloys.
The acquisition includes manufacturing sites in Sinnar, Maharashtra, and in Chennai, Tamil Nadu and the trademarked brands of Hipolyene, Hiflex & Entek. The transaction is expected to close in early 2016. Until the transaction is complete, Zylog will conduct business as usual and continue to provide the same level of support, service and high quality products to its customers. Zylog’s advisors included PricewaterhouseCoopers (PwC) India as financial advisors, whereas AZB & Partners advised on legal matters. Zylog Plastalloys will continue to operate its elastomer business that includes brands Neoplast (TPV) and Neoflex (TPE). Current promoters have strategic plans in place to expand this elastomer business with new technology and product portfolio to cover wider applications in medical, healthcare, poultry, irrigation, wire & cable, building & construction, appliances and of course automotive. Besides, Zylog Composites, a new startup from the same group, is pushing new frontiers in thermoformed parts and components based on flexible and rigid TPOs, replacing rubber, PVC, ABS, HIPS focused to automotive applications.
02-Dec-15 
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