LyondellBasell’s New Hostalen ACP License


Mar. 20 2019, Published 7:29 a.m. ET

The impact

The new contract with  Lianyungang Petrochemical for Hostalen ACP also signifies LyondellBasell’s (LYB) tenth Hostalen ACP line licensed in China that exceeds a capacity of 3.4 million tons per year.

Jim Seward, LyondellBasell’s vice president for technology business and sustainability, said, “We are grateful to Zhejiang Satellite for selecting our technology. With this contract, LyondellBasell has licensed more than 1 million tons of Hostalen ACP capacity this year. This clearly demonstrates this is the process technology of choice for the production of high-performance multimodal HDPE products.”

Article continues below advertisement

Despite the positive news, the negative sentiments in the stock market pushed the stock into the red. LYB closed at $89.96 and declined by 0.36%. In comparison, peer Eastman Chemical (EMN) gained ~0.1%, while Westlake Chemical (WLK) and Celanese (CE) fell 1.14% and 0.40%, respectively. The broader market S&P 500 (SPY) remained flat. LYB is trading marginally lower than its 100-day moving average price of $87.66.


More From Market Realist

  • CONNECT with Market Realist
  • Link to Facebook
  • Link to Twitter
  • Link to Instagram
  • Link to Email Subscribe
Market RealistLogo
Do Not Sell My Personal Information

© Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.