LyondellBasell
Lyondell Chemical Company was a major, globally active chemical company headquartered in Houston, Texas was listed until the takeover by the Basell until the end of December 2007 on the New York Stock Exchange. It now belongs to Lyondellbasell Industries AF SCA the holding company Access Industries.
History
In 1985, Lyondell from the Atlantic Richfield Company ( ARCO ) has emerged. In 2005, a turnover of about 24 billion U.S. $ ( 2005) was achieved.
In December 2007, Lyondell was taken over by the Dutch chemical company Basell for $ 19 billion.
The chemical company LyondellBasell is a subsidiary of Access Industries joint venture between the Russian-born billionaire Leonard Blavatnik U.S..
Due to debt of 26 billion U.S. dollars, the company applied for early January 2009, a bankruptcy under Chapter 11
Group structure
Under the cloak of Lyondell also operate the company:
- Equistar
- Millennium Chemicals as well as the
- Houston Refining LP