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LyondellBasell (LYB) acquires mechanical recycling assets from PreZero, expanding its U.S. presence and plastic recycling capabilities. The acquisition includes a processing facility in California with a production capacity of 50 million pounds per year. LYB plans to operate the plant to manufacture post-consumer recycled resins under its CirculenRecover brand, contributing to the circular economy and meeting customer demand for sustainable products.
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LyondellBasell (LYB) announces executive committee changes with Kimberly Foley as EVP of Global Olefins & Polyolefins, Refining, and Supply Chain, and Aaron Ledet as EVP of Intermediates and Derivatives. The changes follow the departure of Ken Lane.
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LyondellBasell Industries (NYSE: LYB) reported fourth-quarter 2023 net income of $185 million, or $0.56 per share, and full-year 2023 net income of $2.1 billion, or $6.46 per share. The company also took final investment decision to build a catalytic advanced recycling plant and announced the divestiture of its Ethylene Oxide and Derivatives business. Despite challenges, the company delivered resilient results and is focused on a three-pillar strategy to create a more profitable and sustainable growth engine.
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LyondellBasell (NYSE: LYB) and MSI Technology, LLC have entered into an agreement for MSI Technology to serve the LyondellBasell Polybutene-1 (PB-1) resin line into consumer packaging applications for North America. This strategic fit aims to enhance offerings to customers in consumer packaging, utilizing the technical sales approach and specialty product portfolio of MSI Technology. LyondellBasell PB-1 resins are known for their broad seal-peel temperature range, consistent and reproducible peel performance, and good seal integrity, making them ideal for easy-open packaging and film modification.
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LyondellBasell's Senior Vice-President, Ronald Haddock, discusses the need for a significant sustainability transformation in the chemical industry. The company is focusing on reducing GHG emissions, increasing circularity, and meeting net-zero targets. Investments are required to achieve these objectives, balancing sustainability with shareholder expectations. The industry is influenced by mega trends like energy transitions, changes in consumer habits, and post-globalization trade flows.
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LyondellBasell (LYB) has introduced a new flame-retardant compound, Petrothene T3XL7420, designed to optimize production line speeds and enhance manufacturing efficiency for wire producers in the automotive and appliance industries. The compound offers benefits such as enhanced cure kinetics, increased stiffness, and better barrier performance, making it an attractive option for wire producers. LyondellBasell expects Petrothene T3XL7420 to become the product of choice for a wide range of automotive and appliance wiring applications.
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LyondellBasell (LYB) has been awarded a €40 million grant from the European Union (EU) Innovation Fund to support the development of a fully-electrified, industrial-scale advanced recycling demonstration plant in Wesseling, Germany. The MoReTec technology, which will be implemented in the plant, is an innovative process that converts polyolefin waste into pyrolysis oil and gas, contributing to the production of polymer and reducing CO2 emissions. The plant is expected to start operations in 2026 and will have an annual processing capacity equivalent to the plastic packaging waste generated by over 1.2 million German citizens per year. This grant is part of the EU's efforts to fund clean-tech projects and support decarbonization, with a total commitment of EUR 3.6 billion for innovative low-carbon technologies.
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LyondellBasell, a global chemical industry leader, is set to announce its Q4 2023 financial results on February 2, 2024. The results will be followed by a webcast and teleconference hosted by David Kinney, Head of Investor Relations. Access to presentation slides and a replay of the call will also be available.
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LyondellBasell (NYSE: LYB) has signed two new Power Purchase Agreements (PPA) in the United States, bringing the company's total procured renewable electricity to 1,366 megawatts (MW), representing 89% of its goal to procure a minimum of 50% of its electricity from renewable sources. The agreements are expected to accelerate the development of clean energy and shift to the use of low-carbon energy at the company's sites. The company aims to reduce its scope 1 and 2 greenhouse gas emissions, with renewable electricity being a crucial component of its pathway to net-zero emissions by 2050.
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LyondellBasell (LYB) has entered into an agreement to acquire a 35% interest in National Petrochemical Industrial Company (NATPET) from Alujain Corporation for approximately $500 million. The joint venture will provide LYB access to advantaged feedstocks and additional product marketing capacity in a strategic region. The transaction also includes potential construction of a new propylene via propane dehydrogenation (PDH) and PP facility at the NATPET site, subject to a final investment decision. The investment reflects LYB's strategy of growing and upgrading its core assets and businesses with lasting advantages.
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LyondellBasell Industries N.V.
NYSE:LYB
LYB Rankings
LYB Stock Data
32.28B
258.63M
20.32%
72.49%
1.7%
All Other Miscellaneous Chemical Product and Preparation Manufacturing
Manufacturing
United States of America
HOUSTON
About LYB
lyondellbasell (nyse: lyb) is one of the world’s largest plastics, chemicals and refining companies and a member of the s&p 500 index. with operations on five continents, we are a major global manufacturer of ethylene, polyethylene, propylene, polypropylene, propylene oxide, oxygenated fuels and acetyls. we also are a significant producer of gasoline, diesel and gasoline blending components. our products provide the amazing chemistry for countless goods that improve the quality of life for people around the world, including packaging, electronics, automotive parts, home furnishings, medical supplies, construction materials and biofuels. our portfolio lyondellbasell’s balanced, integrated product portfolio is comprised of five amazing business segments – olefins and polyolefins – americas; olefins and polyolefins – europe, asia and international; intermediates and derivatives; refining; and technology. we manufacture products at 55 sites in 18 countries and participate in 16 manufa