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LyondellBasell Introduces New Purell Copolymer

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Oct. 15 2018, Published 8:06 a.m. ET

LyondellBasell’s new product

In a press release on October 11, LyondellBasell discussed the launch of a new copolymer—Purell EP374M. The new product targets the Healthcare segment by storing medicine and healthcare components.

In the Healthcare segment, medicines and components are stored between -2 degrees and eight degrees Celsius. The containers and packaging materials need to withstand low temperatures without breaking. Purell EP374M meets these requirements and provides an alternative.

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Rodney Fox, the marketing manager of LyondellBasell’s European PP Healthcare and Caps and Closures business, said, “Customers report that articles produced with Purell EP374M maintain its toughness and impact resistance within a broad temperature window, including sub-zero temperatures. This product complements our extensive range of products for the healthcare industry.”

LyondellBasell’s stock performance

Weaker US markets caused LyondellBasell stock to fall 5.8%. The stock closed at $97.5 for the week ending October 12. The decline in the stock price caused LyondellBasell to trade 11.1% below the 100-day moving average price of $109.68, which indicates prevailing weakness in the stock. On a year-to-date basis, the stock has fallen ~11.6%. In comparison, Celanese (CE), Westlake Chemical (WLK), and Eastman Chemical (EMN) have declined 7.8%, 24.1%, and 11.0%, respectively. LyondellBasell’s 14-day relative strength index of 29 indicates that the stock is close to being oversold.

Investors could hold LyondellBasell indirectly by investing in the Invesco S&P 500 Equal Weight Materials ETF (RTM), which declined 7.4% for the week. RTM invested 4.3% of its portfolio in LyondellBasell as of October 12.

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