HOUSTON and SÃO PAULO, Friday, Sept. 30 /PRNewswire/ -- LyondellBasell (NYSE: LYB) today announced it has acquired Colortech da Amazonia, a manufacturer of color concentrates, additive masterbatches and mineral-filled compounds located in Manaus, Brazil.
“As a well-respected producer of masterbatches, compounds and additives in Brazil, Colortech da Amazonia is known for its innovation, service and quality products. We believe Colortech is the ideal partner to advance our business by expanding our footprint and enhancing our product offerings to our customers,” said Torkel Rhenman, executive vice president of Advanced Polymer Solutions. “We are thrilled to welcome the experienced Colortech team to LyondellBasell.”
Colortech will continue to produce and supply its ongoing business products to its customers, and with the addition of LyondellBasell’s three other Brazilian locations, customers will be able to purchase a deeper and broader range of innovative product solutions, including compounds, colors, masterbatches, powders and engineered polymers from a single source.
As a leader in the global chemical industry, LyondellBasell strives every day to be the safest, best operated and most valued company in our industry. The company’s products, materials and technologies are advancing sustainable solutions for food safety, access to clean water, healthcare and fuel efficiency in more than 100 international markets. LyondellBasell places high priority on diversity, equity and inclusion and is Advancing Good with an emphasis on our planet, the communities where we operate and our future workforce. The company takes great pride in its world-class technology and customer focus. LyondellBasell has stepped up its circularity and climate ambitions and actions to address the global challenges of plastic waste and decarbonization. In 2022, LyondellBasell was named as one of FORTUNE Magazine's "World's Most Admired Companies" for the fifth consecutive year. For more information, please visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.
Cautionary Note Regarding Forward-looking Statements for LyondellBasell
The statements in this release relating to matters that are not historical facts are forward-looking statements. These forward-looking statements are based upon assumptions of management of LyondellBasell 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, market conditions, 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; our ability to achieve expected synergies from the transaction described in this release; uncertainties related to the extent and duration of the pandemic-related decline in demand, or other impacts due to the COVID-19 pandemic in geographic regions or markets served by us, or where our operations are located, including the risk of prolonged recession; future financial and operating results; and risks and uncertainties posed by international operations, including foreign currency fluctuations. 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, 2021 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. There is no assurance that any of the actions, events or results of the forward-looking statements will occur, or if any of them do, what impact they will have on our results of operations or financial condition. Forward-looking statements speak only as of the date they were made and are based on the estimates and opinions of management of LyondellBasell at the time the statements are made. LyondellBasell does not assume any obligation to update forward-looking statements should circumstances or management’s estimates or opinions change, except as required by law.