LyondellBasell Adds New South East European Distribution Hub for Improved Customer Experience

Rhea-AI Summary

LyondellBasell announces the opening of a new distribution hub in Budapest, Hungary, aimed at enhancing customer experience by reducing lead times for polyolefins grades. This development follows the establishment of a similar hub in the UK in November 2023. Partnering with logistics expert Maersk, this strategic move will improve delivery speeds and optimize distribution networks. Erik Mezger, LyondellBasell's commercial manager for polymers, emphasizes the company's commitment to exceptional service. Maersk's Patrick Hore highlights the efficiency and resilience of decentralized warehousing solutions.

Positive

• New distribution hub in Budapest, Hungary, enhances customer experience by reducing lead times.
• Follows successful opening of a similar hub in the UK in November 2023.
• Partnered with Maersk, a reputed logistics expert, ensuring optimized distribution.
• Strategic location in Budapest to ensure faster access to products.
• Supports LyondellBasell’s global footprint expansion and service quality.

Negative

• Additional operational costs associated with running multiple distribution hubs.
• Potential risks if the Budapest hub faces logistical disruptions or inefficiencies.

ROTTERDAM, Netherlands, May 16, 2024 /PRNewswire/ -- LyondellBasell, a global leader in the chemical industry, is proud to announce the establishment of a new distribution hub in Hungary for its polyolefins grades. This move is part of our ongoing commitment, also illustrated by the opening of the UK hub in November 2023, to enhancing the customer experience by placing inventories closer to our customers' facilities reducing lead times on orders.

This distribution hub in Hungary is an important addition to the LyondellBasell global footprint. In addition to our existing distribution platforms, this new hub signifies a significant step forward in providing our customers with faster access to our products.

The creation of this new hub in Hungary is the result of a collaborative effort with logistics expert Maersk, who has a long-standing reputation for excellence in the field. The hub will be strategically located in Budapest, ensuring optimized distribution and swift delivery.

Erik Mezger, commercial manager Polymers, commented, "LyondellBasell is committed to delivering exceptional service and that's why we're excited to announce the opening of a new distribution hub in Hungary. This expansion will mean shorter lead times and even better service for our customers. Additionally, it enables us to further leverage our global asset footprint network so that we can ensure that our customers get the products they need, when they need them."

"We are proud to support LyondellBasell with a tailor-made warehousing solution which reduces the lead time for their deliveries significantly," says Patrick Hore, global vertical head of chemicals at Maersk. "Providing decentralized warehousing solutions instead of distributing out of a single large distribution center across a whole continent is part of our offering as an integrator of global logistics. With our growing network of around 470 warehouses across all continents and our control of logistics assets like vessels, terminals, aircraft and truck fleets, we are able to offer our customers more reliable and resilient cargo flows even in disruptive times."

For more information about this new distribution hub or any other inquiries, we encourage customers to reach out to their respective LyondellBasell sales representatives.

About LyondellBasell

We are LyondellBasell (NYSE: LYB) – a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors and society. As one of the world's largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. For more information, please visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.

About Maersk

A.P. Moller - Maersk is an integrated logistics company working to connect and simplify its customers' supply chains. As a global leader in logistics services, the company operates in 130 countries and employs more than 100,000 people. Maersk is aiming to reach net zero emissions by 2040 across the entire business with new technologies, new vessels, and green fuels.

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SOURCE LyondellBasell

FAQ

What is the significance of LyondellBasell’s new distribution hub in Hungary for LYB?

The new distribution hub in Hungary aims to enhance customer experience by reducing lead times for polyolefins grades, thereby improving delivery efficiency for LYB.

When was LyondellBasell's distribution hub in Hungary announced?

LyondellBasell announced the new distribution hub in Hungary on May 16, 2024.

Where is LyondellBasell’s new distribution hub located?

The new distribution hub is strategically located in Budapest, Hungary.

Who is LyondellBasell partnering with for the new distribution hub in Hungary?

LyondellBasell is partnering with logistics expert Maersk for the new distribution hub in Hungary.

What benefits does the new Budapest hub offer to LYB’s customers?

The Budapest hub offers faster access to products by reducing lead times and optimizing distribution networks.