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Overview
LyondellBasell Industries is a multinational chemical company based in the Netherlands. It was formed in 2007 through the merger of Lyondell Chemical Company and Basell Polyolefins. The company produces a wide range of products, including plastics, chemicals, and refining products. History Lyondell Chemical Company was founded in 1985 by Leon Oppenheimer, who purchased an unused refinery on the Houston Ship Channel and began producing ethylene and propylene, the building blocks of plastics. Through a series of acquisitions and expansions, the company grew to become one of the world's largest producers of olefins and polyolefins. Basell Polyolefins is a global petrochemical company that was formed in 2005 through the merger of the polyolefins business of Royal Dutch Shell and the olefins and polyolefins business of BASF. The company had a large portfolio of products, including polypropylene, polyethylene, and catalysts. In 2007, Lyondell Chemical Company and Basell Polyolefins merged to form LyondellBasell Industries. The new company had operations in over 100 countries and employed approximately 15,000 people. Operations and Products LyondellBasell Industries manufactures a wide range of products and materials that are used in various industries, including packaging, electronics, automotive, construction, and healthcare. Some of their key products include: - Polyolefins: These are plastic materials made from petroleum products. LyondellBasell produces polyethylene and polypropylene, which are commonly used in packaging, textiles, and consumer goods. - Advanced Polyolefins: These are specialized polyolefins with enhanced properties for use in industries such as automotive, healthcare, and construction. - Chemical Intermediates: LyondellBasell produces a variety of chemical intermediates, such as ethylene oxide, propylene oxide, and butanediol, that are used to make other chemicals and products. - Refining Products: The company operates a number of refineries that produce gasoline, diesel, jet fuel, and other refined petroleum products. - Fertilizers: LyondellBasell produces ammonia and urea, two key ingredients in fertilizers used in agriculture. - Technology and Licensing: The company also licenses its technology and know-how to other companies in the chemical industry. Sustainability LyondellBasell is committed to sustainability and focuses on reducing its environmental impact through various initiatives. These include reducing greenhouse gas emissions, decreasing water use, and increasing energy efficiency. The company also invests in research and development to create more sustainable products and processes. In addition, LyondellBasell is also committed to social responsibility and has programs in place to promote health and safety in the workplace, support the communities where it operates, and uphold ethical standards. Financials LyondellBasell Industries had revenues of $34.5 billion in 2020 and employs approximately 18,000 people worldwide. The company is listed on the New York Stock Exchange under the ticker symbol LYB.
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