Chemical Processing
Newly Formed LyondellBasell Industries Aims to Make Changes, Maintain Profits
In early 2008, Basell Polyolefins (Hoofddorp, Netherlands) acquired Lyondell Chemical Company (Houston, Texas). Not only did the company obtain the ...
Released Friday, July 11, 2008
Researched by Industrial Info Resources (Sugar Land, Texas)--In early 2008, Basell Polyolefins (Hoofddorp, Netherlands) acquired Lyondell Chemical Company (Houston, Texas). Not only did the company obtain the new identity of LyondellBasell Industries, but also relocated many offices. Corporate headquarters was repositioned from Hoofddorp to Rotterdam, where Lyondell Chemical Company had originally planned to establish their European headquarters. The company decided that the North American headquarters of LyondellBasell Industries would remain in Houston, where Lyondell had previously held its corporate offices.
As with many mergers and acquisitions, the consolidation of capacity and assets often means the elimination or closure of some operating units or plants. At least two polypropylene unit closures are pending at sites located in Corunna, Ontario, and Morris, Illinois. An elastomers plant employing an estimated 250 people in Grand Prairie, Texas, is expected to close by the end of the year. Earlier this year LyondellBasell closed plants in Varennes, Quebec, and Dunkirk, Maryland, eliminating close to 200 jobs.
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Industrial Info Resources (IIR) is a marketing information service specializing in industrial process, energy and financial related markets with products and services ranging from industry news, analytics, forecasting, plant and project databases, as well as multimedia services.
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