Viva Energy has reached an agreement to acquire Geelong-based LyondellBasell Australia (LBA), a national polymer manufacturer and distributor which has its production facility located inside the footprint of Geelong Refinery.
LBA is Australia’s only polypropylene producer, supplying raw material for a wide range of plastic products in Australia and New Zealand, from food packaging to medical equipment to polymer bank notes.
The company, which employs approximately 100 people across manufacturing, supply chain, and marketing operations, serves more than 60 customers in Australia, New Zealand, Asia, India, the Middle East, and North America.
Viva Energy CEO Scott Wyatt said the business was “strongly complementary to Viva Energy’s refining operations”, with the refinery’s propylene production utilised as the feedstock in LBA’s existing manufacturing operations.
“This acquisition is another step in the development of our Geelong Energy Hub and the further diversification of our Commercial and Industrial businesses,” he stated.
“This facility and its manufacturing capability are vital to the economies of Victoria and Australia, and can have important roles to play in Australia’s circular economy through the recycling of plastics.
“The acquisition of this business opens the door for innovation and the development of new business opportunities.”
LBA Managing Director Mitchell Killeen said, “LBA has a proud operational and trading history in Geelong and Australia, and we are excited to see this continue under Viva Energy’s ownership.
“As part of the transaction, we have agreed that Viva Energy will become our local distributor and we look forward to working with them.
“Just last month, Prime Minister Scott Morrison identified plastics as one of seven key manufacturing sectors of national interest. This business has an important role in Australia’s future.”
