LyondellBasell

LyondellBasell Industries N.V. is a multinational chemical company incorporated in the Netherlands with U.S. operations headquartered in Houston, Texas, and offices in London, UK. The company is the largest licensor of polyethylene and polypropylene technologies. It also produces ethylene, propylene, polyolefins, and oxyfuels. LyondellBasell was formed in December 2007 by the acquisition of Lyondell Chemical Company by Basell Polyolefins for $12.7 billion. As of 2016, Lyondell was the third largest independent chemical manufacturer in the United States. History Early history Since its establishment in 1985 from facilities belonging to the Atlantic Richfield Company (ARCO), the company grew through stock swaps with Occidental Chemicals and Millennium Chemicals in 1997, which formed Equistar Chemicals of which each entity were partners. Lyondell purchased the outstanding shares from each of its partners to gain total control of Equistar which is a wholly owned subsidiary of Lyondell. Lyondell bought ARCO Chemical in 1998 for $5.6 billion including ARCO's entire 82.2% ownership stake. In 2004, Lyondell purchased Millennium Chemicals in a stock-swap deal at $2.3 billion. In August 2006, Lyondell acquired Citgo's interest in the Lyondell-Citgo Refinery for $2.1 billion, and renamed the facility Houston Refining.