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Stock Market & Financial Investment News

News Breaks
February 1, 2013
08:38 EDTLYBLyondellBasell says has seen a good start to 2013
The company said, "We have seen a good start in 2013. Our assets have run well through the early weeks of the new year. Overall, the fundamentals that supported our success during 2012 have continued. Our employees remain very focused, and we anticipate another strong year in 2013. Olefins in North America continue to benefit from strong margins created by low priced natural gas liquid raw materials. However, outside of North America, the global olefins industry continues to experience low operating rates and profitability, negatively impacting our European olefins and commodity polyolefin businesses. The diversified portfolio of businesses in our Intermediates and Derivatives segment continues to realize solid performance. Our Refining segment will be impacted by a turnaround in the first quarter as we complete scheduled maintenance at our Houston refinery."
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August 18, 2015
09:02 EDTLYBLyondellBasell announces sale of Argentina-based Petroken
LyondellBasell announced that YPF S.A. and Grupo Inversor Petroquimica S.L. have accepted an offer to purchase LyondellBasell's Argentina-based, wholly-owned subsidiary Petroken Petroquimica Ensenada S.A. The sale is expected to close in late 2015 following Brazilian antitrust authority approval. The transaction is valued at $145M on a debt and cash free basis. Based on working capital estimates as of June 30, 2015, expected cash proceeds are $162M. Petroken operates a 180 kiloton polypropylene plant in Ensenada and is a leading polypropylene producer in Argentina.

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