HONG KONG, China, July 17, 2008 – Effective August 1, LyondellBasell Industries will increase prices on all of its PP compound grades in Asia Pacific by USD 300 per tonne.
“The price increases we announced for July 1 were not sufficient to cover the continuously escalating feedstock and energy costs, so this further step is necessary,” said Frank Noeltgen, Vice President of LyondellBasell’s Automotive Business in Asia Pacific.
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LyondellBasell Industries is one of the world’s largest polymers, petrochemicals and fuels companies. We are the global leader in polyolefins technology, production and marketing; a pioneer in propylene oxide and derivatives; and a significant producer of fuels and refined products, including bio-fuels. Through research and development, LyondellBasell develops innovative materials and technologies that deliver exceptional customer value and products that improve quality of life for people around the world. Headquartered in The Netherlands, LyondellBasell (www.lyondellbasell.com) is privately owned by Access Industries.
For information, contact:
Media – LyondellBasell Industries
Kathy Chan, +852 2585 0103