HONG KONG, December 9, 2009 - LyondellBasell Industries today announced another milestone in its continued support of global customers with a new agreement to manufacture products in India. Under a tolling and marketing agreement signed by LyondellBasell and Hyundai Engineering Plastics (HEP), HEP will manufacture LyondellBasell’s latest-generation Hostacom and Hifax polypropylene compounds using LyondellBasell’s proprietary technology and formulations at the HEP plant in Chennai, Tamil Nandu, India. LyondellBasell will have exclusive marketing rights for these products.
Paul Yeates, Senior Vice President, Advanced Polyolefins at LyondellBasell said, “This agreement extends our global footprints and allows us to better serve our customers in major regions.”
Hostacom and Hifax polypropylene compounds are used by customers to add value in automotive applications, such as instrument panels, interior trim and bumpers, as well as white goods such as washing machines and refrigerators. “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 the fast-growing Indian market,” said Frank Noeltgen, vice president, Asia-Pacific Compounding Business at LyondellBasell.
The arrangement expands the existing global cooperation between the two companies that began in 2006, in which LyondellBasell produces, markets and sells HEP’s Supol* materials under license from HEP in North America and Europe.
*Supol is a trademark of Hyundai Engineering Plastics.
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LyondellBasell Industries is one of the world’s largest polymers, petrochemicals and fuels companies. We are the global leader in polyolefins technology, production and marketing; a pioneer in propylene oxide and derivatives; and a significant producer of fuels and refined products, including biofuels. Through research and development, LyondellBasell develops innovative materials and technologies that deliver exceptional customer value and products that improve quality of life for people around the world. LyondellBasell (www.lyondellbasell.com) is privately owned by ProChemie GmbH, a joint venture of Access Industries and ProChemie Holding Ltd.
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Media – Andreas Anker, +49 2236 72 1595