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LyondellBasell Industries N.V. Class A (NYSE: LYB) is one of the world’s largest plastics, chemicals, and refining companies, and a member of the S&P 500 index. With operations spanning five continents, the company is a major global manufacturer of essential chemicals and materials such as ethylene, polyethylene, propylene, polypropylene, propylene oxide, oxygenated fuels, and acetyls. Additionally, LyondellBasell is a significant producer of gasoline, diesel, and gasoline blending components.
The company's products play a crucial role in enhancing the quality of life globally, being integral to the manufacturing of packaging, electronics, automotive parts, home furnishings, medical supplies, construction materials, and biofuels. Operating from 55 sites in 18 countries, LyondellBasell's business is segmented into five areas: Olefins and Polyolefins – Americas; Olefins and Polyolefins – Europe, Asia and International; Intermediates and Derivatives; Refining; and Technology.
Recent achievements include the strategic review of its European assets to align with the company's core growth strategy and enhance its Circular & Low Carbon Solutions (CLCS) business. LyondellBasell has been expanding its recycling operations with the establishment of a new plastic waste recycling hub in Knapsack, Germany, and new distribution hubs in the UK and Hungary to reduce lead times and improve supply chain efficiency.
Financially, LyondellBasell reported a net income of $473 million for the first quarter of 2024, with an EBITDA of $1.0 billion. The company has a disciplined capital allocation strategy, investing in capital expenditures, returning dividends to shareholders, and maintaining substantial liquidity.
Key partnerships and projects include a joint venture with Alujain Corporation for polypropylene production in Saudi Arabia, leveraging advanced technologies to expand its polypropylene business. Moreover, the company collaborates with brands like CORADIN and Dermalogica to integrate sustainable solutions into consumer products.
LyondellBasell remains committed to driving innovation in the chemical industry, focusing on sustainability and creating value for customers and investors through advanced technology and strategic investments.
LyondellBasell announces the appointment of Peter Vanacker as the new Chief Executive Officer, succeeding Bhavesh V. Patel, who is retiring on December 31, 2021. Vanacker, with over 30 years in the industry, including leadership roles at Neste Corporation and CABB Group, will assume his role by June 2022. Kenneth Lane, currently executive vice president of Global Olefins & Polyolefins, will act as interim CEO during this transition. The Board expresses confidence in Vanacker's ability to enhance shareholder value and champion sustainability goals.
LyondellBasell Industries N.V. (NYSE: LYB) announced pricing terms for its cash tender offers totaling up to $1 billion for outstanding notes. The offers include five series of notes with early participation payments and total considerations based on yield calculations. The early participation date was set for December 1, 2021, with the final expiration date on December 15, 2021. LyondellBasell has satisfied all conditions for the offers and will settle on December 3, 2021. The company is advised by Deutsche Bank Securities and Wells Fargo Securities.
LyondellBasell Industries N.V. (NYSE: LYB) announced on December 2, 2021, the results of its tender offers to purchase up to $1 billion of outstanding notes. Valid tenders prior to the December 1 early participation deadline resulted in significant oversubscription. The company will accept notes based on established acceptance priority levels, with a $225 million cap for Level 1 notes. The total amount accepted includes $224.994 million of 5.750% Senior Notes due 2024 and $409.183 million of 3.500% Guaranteed Notes due 2027. The offers are set to expire on December 15, 2021.
On November 24, 2021, LyondellBasell (NYSE: LYB) announced that Michael McMurray, executive vice president and chief financial officer, will participate in a virtual fireside chat at the Citi 2021 Basic Materials Virtual Conference. This event is scheduled for November 30, 2021, at 10:15 a.m. ET. Stakeholders can access the event via a live webcast, with a replay available shortly after. LyondellBasell is a leading company in plastics, chemicals, and refining, recognized for its contributions to various industries, including food safety and automotive efficiency.
LyondellBasell (NYSE: LYB) has declared a $1.13 per share dividend, set to be paid on December 6, 2021. Shareholders of record by November 29, 2021 will receive the dividend, with an ex-dividend date of November 26, 2021. This announcement reflects the company's commitment to returning value to its shareholders. LyondellBasell is a global leader in plastics, chemicals, and refining, recognized for its innovative products essential for modern challenges.
LyondellBasell Industries N.V. (NYSE: LYB) announced on November 17, 2021, the initiation of cash offers to purchase up to $1 billion of certain outstanding notes. The offers involve a 'waterfall' methodology for accepting notes based on specified acceptance priority levels. The maximum acceptance for the 5.750% Senior Notes due 2024 is capped at $225 million. The offers commence immediately and will expire on December 15, 2021, unless extended. Participation details include an early participation date set for December 1, 2021.
LyondellBasell (NYSE: LYB) announced that CEO Bob Patel will participate in a virtual fireside chat at the Morgan Stanley Global Chemicals, Agriculture and Packaging Conference on November 10, 2021, at 2:00 p.m. ET. Investors can access a live webcast of the event through the company’s investor relations page, with a replay available within 24 hours. LyondellBasell, a global leader in plastics, chemicals, and refining, continues to address modern challenges with innovative materials and was named one of FORTUNE Magazine's 'World's Most Admired Companies' for the fourth consecutive year.
LyondellBasell reported strong third-quarter 2021 results, netting $1.8 billion in income, or $5.25 per diluted share, supported by robust demand and tight market conditions. EBITDA reached $2.7 billion, with record cash from operating activities at $2.1 billion. The company reduced debt by $2.4 billion year-to-date and repurchased 1 million shares for $0.5 billion. LyondellBasell aims for a 30% CO2 reduction by 2030 and net-zero emissions by 2050. The outlook remains positive, although margins may moderate due to rising feedstock costs.
LyondellBasell (NYSE: LYB) will report its third-quarter 2021 financial results on October 29, 2021, before the U.S. market opens. A webcast and teleconference will follow at 11:00 a.m. EDT, hosted by David Kinney, Head of Investor Relations. Presentation slides will be accessible during and after the call. A replay will be available from 1:00 p.m. EDT on October 29 until November 30, 2021. LyondellBasell, a leader in plastics, chemicals, and refining, serves more than 100 countries and has been recognized on FORTUNE's list of the "World's Most Admired Companies" for four consecutive years.
LyondellBasell has set an ambitious target to achieve net zero emissions by 2050, with an interim goal of reducing scope 1 and scope 2 emissions by 30% by 2030. The company plans to source at least 50% of its electricity from renewable sources by 2030, aiming to eliminate around 2 million metric tons of CO2 emissions. Key strategies include advanced energy management, flare minimization, and a roadmap to phase out coal usage in Germany. These sustainability initiatives underscore LyondellBasell's commitment to combating climate change and aligning with the Paris Agreement.
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