HOUSTON, Jan. 21, 2020 /PRNewswire/ -- LyondellBasell (NYSE: LYB), one of the largest plastics, chemicals and refining companies in the world, today announced it has been named to Fortune Magazine's 2020 list of the "World's Most Admired Companies." This marks the third year that LyondellBasell has made the list, which identifies the organizations with the strongest reputations across a variety of industry sectors.
"Credit for this recognition goes to our employees who work tirelessly to operate safely, responsibly and deliver products that meet or exceed our customers' needs," said Bob Patel, CEO of LyondellBasell. "In 2020 we remain focused on the startup of our Hyperzone polyethylene plant which uses our new proprietary technology, continuing construction of our Propylene Oxide / Tertiary Butyl Alcohol (PO/TBA) plant in Texas, and delivering an outstanding value proposition for our customers and shareholders."
In 2019, LyondellBasell:
- played a leadership role in creating and launching the first global, cross-value chain Alliance to End Plastic Waste;
- collaborated with Samsonite to create a suitcase collection made of 100 percent post-consumer plastic waste provided through our Quality Circular Polymers joint venture with SUEZ;
- advanced our molecular recycling capabilities and announced the construction of a small-scale pilot plant in Ferrara, Italy to convert post-consumer plastic waste into feedstock;
- successfully produced plastics at commercial scale using sustainable bio-based raw materials, such as waste and residue oils in collaboration with Neste; and,
- announced Memoranda of Understanding to form two joint ventures in China which will produce chemicals used in a variety of applications including construction materials, packaging and furnishings.
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 evaluate companies in the categories of:
- People Management
- Use of Corporate Assets
- Social Responsibility
- Quality of Management
- Financial Soundness
- Long-Term Investment Value
- Quality of Products / Services
- Global Competitiveness
More information on Fortune's "World's Most Admired Companies" list can be found here.
LyondellBasell (NYSE: LYB) is one of the largest plastics, chemicals and refining companies in the world. Driven by its 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, improving the safety, comfort and fuel efficiency of many of the cars and trucks on the road, and ensuring the safe and effective functionality in electronics and appliances. LyondellBasell sells products into more than 100 countries and is the world's largest producer of polypropylene compounds and the largest licensor of polyolefin technologies. In 2020, LyondellBasell was named to Fortune Magazine's list of the "World's Most Admired Companies" for the third consecutive year. More information about LyondellBasell can be found at www.lyondellbasell.com.
SOURCE LyondellBasell Industries