HOUSTON, Jan. 22, 2018 /PRNewswire/ -- Today,
LyondellBasell (NYSE: LYB), one of the world's largest plastics,
chemicals and refining companies, announced it has been named to
Fortune Magazine's 2018 list of the "World's Most Admired
Companies" for 2018. This is a first-time achievement for the
company.
"This is a tremendous and well-deserved honor for our 13,000
employees around the world who continue to deliver on the promise
of making LyondellBasell the best operated, most valued company in
our industry," said Bob Patel, CEO
of LyondellBasell. "While we are certainly proud of all that has
been accomplished, our focus remains on executing the strategy that
will make us even more competitive in the future."
According to Korn Ferry, who
administers the survey for Fortune Magazine, the "World's Most
Admired Companies" study surveys top executives and directors from
eligible companies, along with financial analysts, to identify the
organizations that enjoy the strongest reputations within their own
industries and across industries. Survey respondents are asked to
evaluate companies in the categories of:
- Ability to attract and retain talented people
- Quality of management
- Social responsibility to the community and the environment
- Innovativeness
- Quality of products or services
- Wise use of corporate assets
- Financial soundness
- Long-term investment value
- Effectiveness in doing business globally
In December, LyondellBasell commemorated the 10-year anniversary
of the merger between Basell AF and Lyondell Chemical Company.
Since the merger, LyondellBasell has:
- established a reputation as one of the safest, most reliable
operators in the industry;
- more than doubled in enterprise value;
- increased its dividend nine times since 2011 and returned
nearly $28 billion to shareholders in
dividends and share buybacks;
- been granted more than 5,000 patents worldwide;
- invested billions to expand the capacity of plants across the
globe, including a 20 percent increase in U.S. ethylene capacity
since 2012;
- announced new innovations and growth projects, including the
construction of the new Hyperzone Polyethylene (PE) plant
and the world's largest Propylene Oxide/Tertiary Butyl Alcohol
plant in Texas; and,
- expanded into new markets, including India and China; and, new product lines, including
recycled plastics.
More information on Fortune's "World's Most Admired Companies"
list can be found here.
About LyondellBasell
LyondellBasell (NYSE: LYB) is one of the largest plastics,
chemicals and refining companies in the world. Driven by its 13,000
employees around the globe, LyondellBasell produces materials and
products that are key to advancing solutions to modern challenges
like enhancing food safety through lightweight and flexible
packaging, protecting the purity of water supplies through stronger
and more versatile pipes, and improving the safety, comfort and
fuel efficiency of many of the cars and trucks on the road.
LyondellBasell sells products into approximately 100 countries and
is the world's largest licensor of polyolefin technologies. In
2018, LyondellBasell was named one of the "World's Most Admired
Companies" by Fortune Magazine. More information about
LyondellBasell can be found at www.lyondellbasell.com.
FORWARD-LOOKING STATEMENTS
The statements in this
release and the related teleconference relating to matters that are
not historical facts are forward-looking statements. These
forward-looking statements are based upon assumptions of management
which are believed to be reasonable at the time made and are
subject to significant risks and uncertainties. Actual results
could differ materially based on factors including, but not limited
to, the business cyclicality of the chemical, polymers and refining
industries; the availability, cost and price volatility of raw
materials and utilities, particularly the cost of oil, natural gas,
and associated natural gas liquids; competitive product and pricing
pressures; labor conditions; our ability to attract and retain key
personnel; operating interruptions (including leaks, explosions,
fires, weather-related incidents, mechanical failure, unscheduled
downtime, supplier disruptions, labor shortages, strikes, work
stoppages or other labor difficulties, transportation
interruptions, spills and releases and other environmental risks);
the supply/demand balances for our and our joint ventures'
products, and the related effects of industry production capacities
and operating rates; our ability to achieve expected cost savings
and other synergies; our ability to successfully execute projects
and growth strategies; legal and environmental proceedings; tax
rulings, consequences or proceedings; technological developments,
and our ability to develop new products and process technologies;
potential governmental regulatory actions; political unrest and
terrorist acts; risks and uncertainties posed by international
operations, including foreign currency fluctuations; and our
ability to comply with debt covenants and service our
debt. 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, 2016, which
can be found at www.lyondellbasell.com on the Investor Relations
page and on the Securities and Exchange Commission's website at
www.sec.gov.
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SOURCE LyondellBasell