LyondellBasell Industries NV (LYB), the world’s biggest maker of polypropylene, posted sales and record earnings for the second quarter that topped analysts’ estimates as margins widened on higher prices for its products.
Sales rose 9.1% to US$12.1 bln, exceeding the US$11.5 bln average projection. Margins at the domestic olefins and polyolefins unit, which makes commodity chemicals for the plastics industry, were much wider than expected. LyondellBasell has been riding the wave of cheap natural gas production in the U.S. while expanding its domestic plants.Cheaper raw materials have helped the company’s shares quadruple since it exited bankruptcy four years ago.
28-Jul-14 
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