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LyondellBasell Industries (LYB) is a global leader in chemical manufacturing and advanced recycling solutions, producing essential polymers like polypropylene and polyethylene for industries worldwide. This page serves as your centralized source for all LYB-related news, offering investors and industry professionals timely updates on strategic developments.
Find official press releases, earnings reports, and analysis of operational milestones across LYB's core segments: olefins production, refining operations, and circular economy initiatives. Track updates on mergers, technological advancements, and sustainability projects that shape the company's position in global chemical markets.
Our curated news collection helps stakeholders monitor LYB's progress in mechanical recycling technologies, market expansions, and product innovations. Bookmark this page for direct access to primary source updates from one of the world's largest polyolefin producers, ensuring you stay informed about critical developments affecting the chemicals sector.
LyondellBasell (NYSE: LYB) announced the launch of the Circulen product suite aimed at enhancing sustainability in consumer products. This initiative is part of its goal to produce 2 million metric tons of recycled and renewable-based polymers annually by 2030. The Circulen portfolio includes three categories: Circulen Recover, Circulen Revive, and Circulen Renew, which utilize recycled and renewable materials. The products are currently available in Europe and will expand to North America and China.
LyondellBasell (NYSE: LYB) has nominated Anthony Chase and Robert Dudley to its board of directors for election at the annual general meeting on May 28, 2021. Chase, CEO of ChaseSource, L.P., brings an entrepreneurial mindset and executive experience, while Dudley, former BP CEO, offers extensive expertise in the energy sector. The company thanked retiring director Bella Goren for her seven years of service. LyondellBasell, a major player in plastics and chemicals, continues to focus on building a diverse board to enhance strategic decision-making.
LyondellBasell (NYSE: LYB) announced that CEO Bob Patel will participate in a virtual fireside chat at the JP Morgan 2021 Industrials Conference on March 16 at 2 p.m. EDT. The event will include a live webcast, accessible via their investor events page, with a replay available afterward. LyondellBasell is a leading global producer of plastics, chemicals, and refining products, recognized for its innovative solutions in food safety, water purity, and automotive efficiency. The company has been named to FORTUNE Magazine's 'World's Most Admired Companies' list for four consecutive years.
LyondellBasell (NYSE: LYB) has declared a quarterly dividend of $1.05 per share, scheduled for payment on March 15, 2021. Shareholders on record by March 8, 2021 will be eligible, with an ex-dividend date set for March 5, 2021. As one of the largest companies in the plastics, chemicals, and refining sectors, LyondellBasell continues to advance solutions for modern challenges while strengthening its market position globally.
LyondellBasell reported a net income of $1.4 billion for 2020 and $0.9 billion for Q4 2020, with diluted earnings per share of $4.24 and $2.55, respectively. EBITDA stood at $3.3 billion for the year and $1.4 billion for Q4. The company expanded operational capacity through new joint ventures in China and Louisiana and paid $4.20 per share in dividends. However, a $582 million impairment charge and ongoing challenges in the refining segment influenced overall performance.
LyondellBasell (NYSE: LYB) and Sinopec have announced a 50:50 joint venture to produce propylene oxide (PO) and styrene monomer (SM) in China. This venture, named Ningbo ZRCC LyondellBasell New Material Company Limited, will have production capacities of 275 kilotons per annum for PO and 600 kilotons for SM. The new unit in Ningbo is set to start operations by the end of 2021, subject to government approvals. This collaboration aims to cater to China's growing demand for these chemicals, which are key to various industries.
LyondellBasell (NYSE: LYB) will announce its fourth-quarter 2020 financial results before the U.S. market opens on January 29, 2021. A teleconference and webcast to discuss these results will take place at 11:00 a.m. EST. Hosted by David Kinney, Director of Investor Relations, the webcast can be accessed via www.lyondellbasell.com/earnings. Replay of the call will be available from 1:00 p.m. EST January 29 until February 28.
LyondellBasell (NYSE: LYB) has officially joined the United Nations Global Compact, emphasizing its commitment to sustainability. The initiative encourages companies to align with principles on human rights, labor, and anti-corruption. CEO Bob Patel highlighted the company's focus on reducing plastic waste and addressing climate change. In 2020, LyondellBasell set ambitious recycling targets and launched its MoReTec molecular recycling pilot in Italy. The company is also a founding member of the Alliance to End Plastic Waste, reflecting its dedication to eliminating environmental plastic waste.
LyondellBasell (NYSE: LYB) and SUEZ have expanded their Quality Circular Polymers (QCP) joint venture by acquiring TIVACO, a plastics recycling company in Belgium. This acquisition will enhance QCP's recycling capacity to approximately 55,000 tonnes per year. The move aligns with LyondellBasell's goal to produce 2 million tons of recycled and renewable polymers annually by 2030, contributing to sustainability in plastic production. The TIVACO facility adds to QCP's existing operations, which already process significant volumes of recycled materials for consumer products.
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