Attached files
file | filename |
---|---|
8-K - FORM 8-K - LyondellBasell Industries N.V. | h84917e8vk.htm |
Exhibit 99.1
NEWS RELEASE
|
Media Contact (English) David A. Harpole +1 713 309 4125
Media Contact (French) Caroline Henry +33 (4) 42 74 61 09
Investors Douglas J. Pike +1 713 309 7141
Media Contact (French) Caroline Henry +33 (4) 42 74 61 09
Investors Douglas J. Pike +1 713 309 7141
FOR IMMEDIATE RELEASE
LyondellBasell Finds No Buyer for Berre, France Refinery
ROTTERDAM,
Sept. 27, 2011 LyondellBasell (NYSE: LYB) today announced that the sales offering for
the 105,000 barrels-per-day refinery in Berre, France has resulted in no offer to purchase the
refinery. As a result, Compagnie Petrochimique de Berre S.A.S. (CPB), the refinery operator,
intends to initiate consultations with its works councils, as defined under French law, on a
project to cease refinery operations.
After conducting a thorough sales offering that included reaching out to 85 entities throughout
the world with the assistance of Barclays Capital and the Invest in France Agency (AFII),
unfortunately not a single bid was received for the refinery, said Jean Gadbois, General Manager
of the Berre site.
Despite efforts from employees and management, the refinery continues to suffer severe losses and
remains unprofitable, Gadbois said. With no viable prospects for a buyer of the refinery, we
intend to initiate the consultation process regarding the contemplated closure of refinery
operations. We intend to focus our resources on the core petrochemical assets at Berre.
Approximately 370 jobs would be impacted by this project to cease refinery operations. The
continuation of the petrochemical operations at Berre would preserve approximately 900 jobs at the
Berre site.
The petrochemical assets at Berre include a steam cracker and world-scale polypropylene and
polyethylene plants owned and operated by another LyondellBasell subsidiary. The potential closure
would not affect depot operations or the petrochemical plants and third-party facilities at Berre.
The required consultation with the works councils in France is expected to begin in October.
LyondellBasell (NYSE: LYB) is one of the worlds largest plastics, chemical and refining companies.
The company manufactures products at 58 sites in 18 countries. LyondellBasell products and
technologies are used to make items that improve the quality of life for people around the world
including packaging, electronics, automotive parts, home furnishings, construction materials and
biofuels. More information about LyondellBasell can be found at www.lyondellbasell.com.
This press release contains forward-looking statements as defined in the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are
information of a non-historical nature or which relate to future events and are subject to risks and uncertainties. In many cases,
you can identify forward-looking statements by terminology such as may, will, should,
expects, plans, anticipates, believes, estimates, predicts, potential, or continue,
or the negative of these terms and other comparable terminology. These statements are only
predictions. Actual results could differ materially from those anticipated in these forward-looking
statements as a result of a number of factors. The forward-looking statements made in this
press release relate only to events as of the date of this release. We undertake no ongoing
obligation to update these statements.
Media Contact David A. Harpole +1 713 309 4125
Investors Douglas J. Pike +1 713 309 7141
Investors Douglas J. Pike +1 713 309 7141
SOURCE LyondellBasell Industries
LyondellBasell Industries
www.lyondellbasell.com
www.lyondellbasell.com