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LyondellBasell to end business in Iran

August 25/2010

(Reuters) -- Specialty chemicals giant LyondellBasell Industries NV (LALLF.PK) will end its operations in Iran to avoid penalties the U.S. could soon impose on companies for violating trade sanctions, the Wall Street Journal said.

 

Lyondell's board approved the decision to end its Iranian operations early this month after months of deliberation, David Harpole, a spokesman for LyondellBasell, told the Journal.

 

The Dutch-based company's move will end licensing of its proprietary technology and services to Iranian petrochemical companies, the paper said.

 

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LyondellBasell to end business in Iran

MRC Reference

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

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

The leader in the following polymers processing technologies:

 pipe extrusion;

 film extrusion;

 injection molding


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