Company Overview of LyondellBasell Industries N.V.
LyondellBasell Industries N.V. operates as a manufacturer of chemicals and polymers, refiner of crude oil, producer of gasoline blending components, and developer and licensor of technologies for production of polymers. The company operates in five segments: Olefins and Polyolefins—Americas; Olefins and Polyolefins—Europe, Asia, International; Intermediates and Derivatives; Refining; and Technology. It produces and markets olefins, including ethylene, propylene, and butadiene; polyolefins, which consist of high density polyethylene, low density polyethylene, linear low density polyethylene, and polypropylene (PP); specialty polyolefins comprising PP compounds, catalloy process resins, and po...
Rotterdam, 3013 AK
Founded in 2005
Key Executives for LyondellBasell Industries N.V.
Chairman of the Management Board and Chief Executive Officer
Total Annual Compensation: $609.0K
Chief Financial Officer, Executive Vice President and Member of the Management Board
Total Annual Compensation: $765.7K
Executive Vice President of Global Olefins & Polyolefins and Member of the Management Board
Total Annual Compensation: $609.0K
Compensation as of Fiscal Year 2014.
LyondellBasell Industries N.V. Key Developments
Striking Houston Union Workers Rejects LyondellBasell Offer
Apr 15 15
LyondellBasell Industries and striking United Steelworkers union members have yet to reach a local agreement to end the strike at the company's Houston refinery. And LyondellBasell says the union just rejected its last, best and final offer in a vote late on April 14. LyondellBasell officials told the Chronicle that the company would move forward with implementing the terms of its proposed contract on April 20. The company invited workers to return, but officials also told the Chronicle it would move forward with new hires. The union plans to meet April 15 to discuss next steps, the Chronicle reports. Earlier this month, LyondellBasell released a public letter venting its frustration with the strike, which began Feb. 1. After Houston-based Shell Oil Co., which was negotiating on behalf of the industry, reached an agreement with union representatives that could be used as a model, several companies reached local agreements to end the strikes. Houston-based Motiva Enterprises LLC was one of the first to do so. However, workers at two of Ohio-based Marathon Petroleum Corp.'s plants in Texas City and two of London-based BP PLC's refineries in the Midwest are still on strike, the Chronicle reports. The union represents 30,000 workers nationwide, 5,000 of which are in the Houston area. Texas is a right-to-work state, which means individuals are not required to join labor unions.
Representatives of LyondellBasell and Striking United Steelworkers Union Expects to Resume Negotiations
Apr 9 15
Representatives of LyondellBasell and the striking United Steelworkers union are expected to resume their negotiations on April 10, 2015 at a local hotel. There are also plans to bargain through the weekend. A federal mediator is expected to join the negotiations in an effort to end the strike that began Feb. 1 and affects about 450 union-represented workers. Union representatives also appeared before the National Labor Relations Board to provide information on charges the union filed against LyondellBasell. The charges include allegations the company is bargaining in bad faith, introducing new regressive proposals and imposing what's known as conditional bargaining. The Steelworkers contend that the company refused to meet unless the union agreed to upfront concessions and accept a limited national package that did not conform to the national oil agreement. Union depositions were taken at the NLRB and the company's depositions were taken.
LyondellBasell Plans to Expand Tri-Ethylene Glycol Production Capacity at Ethylene Oxide and Ethylene Glycol Plant in Pasadena, Texas
Mar 24 15
LyondellBasell announced that it plans to expand Tri-ethylene Glycol (TEG) production capacity at the company's existing ethylene oxide and ethylene glycol plant in Pasadena, Texas. The additional capacity of 50 million pounds per year would more than double the company's current production capacity. Engineering is already underway on the new unit, which is anticipated to be operational in late 2016. TEG is a colorless, odorless glycol that is used to dehydrate natural gas and as an additive in hydraulic and brake fluids, among other uses. The company's Bayport Underwood plant in Pasadena produces ethylene oxide, ethylene glycol, glycol ethers and other products.Â Glycol ethers are used to manufacture brake fluid, dyes, paint, solvents, commercial cleaners and waxes, detergents and cosmetic bases. Ethylene glycols are used as intermediate chemicals to produce polyester (PET) fibers, films and bottles.
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