Lyondell Chemical Company
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Naamloze vennootschap (public limited company) |
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| Traded as | : LYB S&P 500 Component |
| Industry | Chemicals |
| Predecessor |
Basell Polyolefins Lyondell Chemical Company |
| Founded | 2007 |
| Headquarters | Houston, Texas, United States and London, UK; Rotterdam, Netherlands (legal domicile) |
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Key people
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Bhavesh V. “Bob” Patel, chief executive officer |
| Products | Chemicals, Polymers |
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| Total assets |
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| Total equity |
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Number of employees
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13,300 (2013) |
| Website | www.lyondellbasell.com |
US$ 44.062 billion (2013) 
US$ 5.102 billion (2013) LyondellBasell Industries N.V. (: LYB) is a public multinational chemical company with American and European roots, incorporated in the Netherlands, with U.S. operations headquarters in Houston, Texas, and global operations in London, UK. It was formed in December 2007 by the acquisition of Lyondell Chemical Company by Basell Polyolefins for $12.7 billion. LyondellBasell was listed on the New York Stock Exchange on October 14, 2010. Lyondell was delisted from the New York Stock Exchange (formerly : LYO) after the acquisition.
LyondellBasell's United States operations filed for Chapter 11 bankruptcy protection in January 2009 and emerged from bankruptcy in April 2010.
On March 3, 2015 LyondellBasell filed an unfair labor charge with the National Labor Relations Board against the United Steelworkers as a national refinery strike stretched into its fifth week. The company alleged union members have threatened employees returning to work at facilities affected by the strike and have been using abusive language on social media sites.
As of 2013[update], Lyondell Chemical Company was the third largest independent chemical manufacturer in the United States. Since its establishment in 1985 from facilities belonging to the Atlantic Richfield Company (ARCO), the company grew through stock swaps with Occidental Chemicals and Millennium Chemicals in 1997 which formed Equistar Chemicals of which each entity were partners. Lyondell purchased the outstanding shares from each of its partners to gain total control of Equistar which is a wholly owned subsidiary of Lyondell. In 2004, Lyondell purchased Millennium Chemicals in a stock-swap deal at $2.3 billion. In August, 2006, Lyondell acquired Citgo's interest in the Lyondell-Citgo Refinery for $2.1 billion, and renamed the facility Houston Refining. Lyondell operates on five continents employing over 11,000 people. It is the global leader in propylene oxide production and the largest North American supplier of styrene monomer. Other products include ethylene, ETBE, polyethylene, and polypropylene.
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