LyondellBasell recognized as one of the ‘World’s Most Admired Companies’ again for year 2021
The results are in: LyondellBasell, the operator of the Tuscola Plant has been named to Fortune Magazine’s 2021 list of the”World’s Most Admired Companies’’ for the fourth straight year. The list recognizes organizations like LyondellBasell which have a strong reputation across a variety of industry sectors.
“This honor is truly a testament to the dedication and effort of our employees,”said Aaron McKee, site manager. “2020 was a year like no other, but our teams remained resilient. We adapted and continued to deliver on our commitments to our customers and community.”
LyondellBasell employees around the world overcame a challenging 2020 to advance many important company initiatives, including:
* produced and marketed two million metric tons of recycled and renewable- based polymers annually by 2030;
* acquired already operating, world-scale assets through the formation of two 50:50 joint ventures in China and Louisiana with both accretive to earnings in the fourth quarter
* expanded circular polymers joint venture capacity in mechanical recycling by 20 kilotons in Belgium
* joined the United Nations (U.N.) Global Compact, the world’s largest corporate sustainability initiative;
* received the American Chemistry Council’s (ACC) highest distinction, the Responsible Care® Company of the Year Award; and
* executed a clear and straightforward strategy to increase free cash flow, moderate our capital expenditures, and remain true to our strategy of capturing value and delivering resilient results at all points in the cycle.
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
* Social Responsibility
* Quality of
* Financial Soundness
* Quality of Products /
About LyondellBasell’s Tuscola Plant
The Tuscola plant employs around 100 people and occupies nearly 900 acres. The site produces ethyl alcohol, diethyl ether and specialty polymers. Ethyl alcohol, or ethanol, is used in many health care and personal product applications such as hair spray, capsule manufacturing, hand sanitizer, and pharmaceutical cleaning. Diethyl ether finds applications as a laboratory reagent solution, usage in chemical synthesis, as an ammunition drier, and starter fluid. The specialty polymers produced here include microfine powders used as additives in personal care products, lubricants, binding agents, water filtration systems, and moisture barriers.
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 2021, LyondellBasell was named to FortuneMagazine’s list of the “World’s Most Admired Companies’’ for the fourth consecutive year. More information about LyondellBasell can be found at www.lyondellbasell.com.