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LyondelBasell new investors optimistic

June 11/2010

(WallStreet Jurnal) -- Despite the sometimes-rancorous bankruptcy case of chemical giant LyondellBasell, Andreas Heeschen, whose ProChemie Holding took a 50% stake in the company during its restructuring, has only good things to say about the U.S. bankruptcy system.

 

To go in and save such an internationally diversified company, its impressive, he said in a meeting Wednesday at Dow Joness offices in Manhattan. That the management team and the creditor groups could interact in such a wayits thanks to the bankruptcy system in this country.

 

Heeschen had his last day on the companys board on Wednesday, when new investors took over at LyondellBasell, which emerged from bankruptcy in late April. The company, which operates 59 manufacturing facilities in 18 countries, filed for Chapter 11 protection in January 2009. Its bankruptcy plan cuts the companys funded debt to about $5 billion from $24 billion.

 

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LyondelBasell new investors optimistic

MRC Reference

LyondellBasell.  The share in the Russian market in 2008:
 PE  - 1.4% (including HDPE - 2.5%, LDPE 0.3%);
 PP 4.1% (including block-copolymers - 9.5%).

Annual sales growth in Russia, during the recent 5 years:
 PE - 27%;
 PP 88%.

The leader in the following polymers processing technologies:

 pipe extrusion;

 film extrusion;

 injection molding.

 

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