LyondellBasell to focus on European polyolefins operations as part of restructuring plan

25-Jun-09

As part of a restructuring target to cut fixed costs to the tune of US$700 mln by the end of 2010, LyondellBasell has started to focus on restructuring its European polyolefins operations. This comprises part of its plan to restructure and deal with a US$23 bln debt burden after the company filed for Chapter 11 to cover US operations only. Several challenges will be faced by the company to review operations at its various European locations in 13 countries