LyondellBasell sets earnings record in 2012

PRW

Published: February 1, 2013 11:40 am ET
Updated: February 1, 2013 11:43 am ET

Related to this story

Topics Materials, Materials Suppliers

HOUSTON -- LyondellBasell Industries has revealed its end of year earnings -- $2.9 billion, up from $2.5 billion in 2011, which it claims is a company record. The strong performance was led by its U.S. olefins and polyolefins operations, explained the industry bellwether.

"Our North American olefins business and our intermediates and derivatives segment set the pace for the year's strong performance," said Jim Gallogly, LyondellBasell's chief executive. "The benefits of our focused back-to-basics strategy were clearly demonstrated as reliable manufacturing operations allowed us to take advantage of favorable market conditions.

"The U.S. shale gas revolution is clearly visible in our current results as well as future growth plans."

During the last two and a half years the company has looked at every part of its business including strict cost controls, he added. This has helped with overall profitability.

"Olefins in North America continue to benefit from strong margins created by low-priced natural gas liquid raw materials. However, outside of North America, the global olefins industry continues to experience low operating rates and profitability, negatively impacting our European olefins and commodity polyolefin businesses," Gallogly explained.

"The diversified portfolio of businesses in our intermediates and derivatives segment continues to realize solid performance. Our refining segment will be impacted by a turnaround in the first quarter as we complete scheduled maintenance at our Houston refinery."


Comments

LyondellBasell sets earnings record in 2012

PRW

Published: February 1, 2013 11:40 am ET
Updated: February 1, 2013 11:43 am ET

Post Your Comments


Back to story


More stories

Image

PolyOne takes on LED lighting

October 22, 2014 4:23 pm ET

PolyOne Corp. is making inroads into LED lighting applications with its Therma-Tech-brand material technology.    More

Image

Bergen International adds manufacturing space, extrusion line

October 22, 2014 3:42 pm ET

Chemical foaming agent manufacturer Bergen International LLC recently doubled its manufacturing capacity, added an extrusion line and laboratory...    More

Image

DuPont materials taking more ground in auto, medical, electronics

October 22, 2014 2:41 pm ET

Materials made by DuPont Co. are making inroads with products ranging from auto coolant pipes to circuit breakers to surgical devices.    More

Image

Materials companies introduce a range of new products at Fakuma

October 22, 2014 11:29 am ET

DuPont Co. led a parade of materials firms with new products at Fakuma 2014.    More

Image

Celanese buys conductive polymer supplier

October 21, 2014 4:31 pm ET

Materials firm Celanese Corp. has acquired most of the assets of conductive polymers maker Cool Polymers Inc. for an undisclosed price.    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events