The 16 months Lyondellbasell spent in Chapter11 was a time of belt tightening and strategic rethinking. Having emerged from bankruptcy in April with a net debt load reduced from over $24 billion to approximately $5 billion and a new top holding company - Lyondellbasell Industries NV - the company is planning a public listing on the New York Stock Exchange in Q3 of this year.
Brandi Schuster and Michael Reubold spoke to Anton de Vries, Lyondellbasell 's senior vice president Olefins & Polyolefins for Europe, Asia and International, about the company's determination to re-establish credibility and its strategy for defending its position as the technology leader in polyolefins.
CHEManager Europe: Now that your company has emerged from Chapter 11, what will Lyondellbasell 's role be in the market over the next couple of years?
A. de Vries: we have just come out of Chapter 11, and our focus now is on regaining credibility, particularly in the financial world. We are working to serve our customers well, run our assets well and to prove that we have financial discipline. I don't see us making any big moves anytime soon; that would not fit in well with the situation Lyondellbasell has been in over the last three years.