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LyondellBasell Announces Sale of Ethylene Oxide & Derivates Business and Production Facility to INEOS
8 Dec 2023
Image courtesy of LyondellBasell Bayport Polymers Plant
HOUSTON, Dec. 8, 2023/PRNewswire/ – LyondellBasell (LYB) today announced it has entered into an agreement to sell its Ethylene Oxide & Derivates (EO&D) business along with the production facility located in Bayport, Texas to INEOS Oxide (INEOS).
“This transaction is evidence of our disciplined focus on value creation through the execution of a key pillar of our strategy - growing and upgrading our core,” said Peter Vanacker, LyondellBasell CEO. “Successful execution of this strategic pillar involves making difficult decisions to divest businesses which are no part of our core. We remain proud of the positive case generation, access to advantaged feedstocks, reliability and highly skilled team that makes up the EO&D business and are excited to have reached an agreement with INEOS to enable the business to continue generating value under different ownership. We look forward to collaborating closely with INEOS on a seamless transition.”
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