HOUSTON and LONDON, Sept. 9,
2016 /PRNewswire/ -- LyondellBasell (NYSE: LYB), one of the
world's largest plastics, chemical and refining companies, has
selected its La Porte, Texas,
manufacturing complex as the site for a new High Density
Polyethylene (HDPE) Plant. The plant will be the first commercial
plant to employ LyondellBasell's new proprietary Hyperzone
PE technology and will have an annual capacity of 1.1 billion
pounds (500,000 metric tons). The project is expected to create up
to 1,000 jobs at the peak of construction and as many as 75 full
time positions. Construction is scheduled to begin in early 2017
with start-up planned for 2019.
"This project represents the next generation of technology,"
said Bob Patel, LyondellBasell CEO and Chairman of the
Management Board. "This location is ideal for this facility because
of the feedstock advantage we enjoy, the ability to ship product
around the world and, most importantly, the outstanding workforce
that the Gulf Coast has to offer."
Located on the south shore of the Houston Ship Channel,
LyondellBasell's La Porte complex
spans 540 acres and produces ethylene, propylene, Linear
Low-Density Polyethylene (LLDPE) and Low-Density Polyethylene
(LDPE). LLDPE, LDPE and HDPE are thermoplastics used to manufacture
a wide variety of plastic products used in everyday life such as
bottles, bags, containers, toys, food packaging, healthcare
articles, automotive applications and industrial packaging. The
La Porte complex is also the
primary location for LyondellBasell's Acetyls business with an
integrated chain of manufacturing units producing methanol, acetic
acid and vinyl acetate monomer (VAM). VAM is used in household
latex paint, adhesives, food packaging, wire and cable coatings and
automotive safety glass.
HDPE is one of the most versatile plastics because it is
lightweight, yet very strong; impact resistant; weather resistant;
it can be molded into almost any shape and is widely
recyclable.
HDPE resins produced using LyondellBasell's new proprietary
Hyperzone PE technology will exhibit enhanced properties
such as an improved stress crack resistance and an improved balance
between stiffness and impact strength. In certain applications,
Hyperzone PE resins may allow customers to use less PE resin
per unit produced, resulting in improved resource efficiency and
savings for customers. This technology was developed at
LyondellBasell's European research and development centers located
in Frankfurt, Germany, and
Ferrara, Italy.
LyondellBasell currently produces a total of 7.8 billion pounds
(3.5 million metric tons) of HDPE annually, including capacity of
its joint venture facilities. The company is a leading worldwide
producer of all forms of PE with an annual capacity of 13.2 billion
pounds (6 million metric tons). LyondellBasell is a global
leader in the development and licensing of polyolefin processes and
related catalysts and plans to make the Hyperzone PE
technology available for licensing in the future. The company has
over 250 polypropylene and polyethylene lines licensed
worldwide.
The Hyperzone PE project is part of LyondellBasell's
ongoing growth plan. Recently, the company completed work on
ethylene expansion projects at the La
Porte and Channelview sites
in Texas. A third ethylene expansion project is currently
underway in Corpus Christi, Texas.
Additionally, development of a world scale propylene oxide and
tertiary butyl alcohol (PO/TBA) plant at the company's Channelview site is progressing.
About LyondellBasell
LyondellBasell (NYSE: LYB) is one
of the world's largest plastics, chemical and refining
companies. The company manufactures products at 57 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.lyb.com.
Hyperzone is a trademark owned by the LyondellBasell
Industries group of companies.
Forward-Looking Statements
This release includes
forward-looking statements and projections, made in reliance on the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. The company has made every reasonable effort to ensure
that the information and assumptions on which these statements and
projections are based are current, reasonable, and complete. Actual
results could differ materially based on factors including, but not
limited to, our ability to obtain all necessary regulatory
approvals and to successfully construct and operate the proposed
facilities described in this release; and general economic
conditions in geographic regions or markets served by
LyondellBasell or where operations of the company are
located. Additional factors that could cause results to
differ materially from those described in the forward-looking
statements can be found in the "Risk Factors" section of our Form
10-K for the year ended December 31,
2015, which can be found at www.lyb.com on the Investor
Relations page and on the Securities and Exchange Commission's
website at www.sec.gov. While the company makes these statements
and projections in good faith, neither the company nor its
management can guarantee that anticipated future results will be
achieved. The company assumes no obligation to publicly update or
revise any forward-looking statements made herein or any other
forward-looking statements made by the company, whether as a result
of new information, future events, or otherwise.
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SOURCE LyondellBasell