LyondellBasell Industries (NYSE: LYB) is a public multinational chemical company based in Rotterdam, Netherlands. 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 (NYSE: LYB and NYSE: LYB.B). Lyondell was delisted from the New York Stock Exchange (formerly NYSE: LYO) after the acquisition. LyondellBas...
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LyondellBasell Industries (NYSE: LYB) is a public multinational chemical company based in Rotterdam, Netherlands. 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 (NYSE: LYB and NYSE: LYB.B). Lyondell was delisted from the New York Stock Exchange (formerly NYSE: LYO) after the acquisition. LyondellBasell is headquartered in Rotterdam, Netherlands, and has its corporate center at 1 Houston Center in Houston, Texas.
LyondellBasell's United States operations filed for Chapter 11 bankruptcy protection in January 2009 and emerged from bankruptcy in April 2010. The existing European senior management was then systematically replaced with U.S. management, triggering a profound change in company culture. Decision-making was moved to Houston and a sustained exodus of experienced European managers began. This cost-cutting measure carries the danger...
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