Company Overview Visit lyondell.com website
Lyondell Basell (NYSE: LYB) is the world's largest polyolefins producer and a global leader in polyethylene, polypropylene and ethylene derivatives. The company was formed through the merger of Lyondell Chemical Company with Basell Polyolefins on December 1, 2006.
Lyondell Chemical Company was founded in 1966 by Robert J. Abernathy as Lyondell Cellosolve Company , a joint venture between Affiliated Research Inc., Ethyl Corporation, Hyman-Michaels Co., Shell Oil Company, Standard Oil Company of California (now Chevron ), Union Tank Car Co., Vickers Petroleum Co., Neches River National Bank First City National Bank of Houston and the First National Bank of Texas. The company was formed with an initial investment of $9.5 million and in its early years operated with a staff of less than 20 people. A subsidiary, Lyondell Chemical Company (UK) Ltd., was incorporated in England to acquire and operate chemical plants outside the United States.