Skip to main content
Sister Publication Links
  • Middle East Foam & Polyurethane
  • UTECH Asia/PU China
  • UTECH Europe
  • UTECH Las Americas
Subscribe
  • My Account
  • Login
  • Subscribe
  • Ukraine
  • News
    • Asia
    • Americas
    • Europe
    • M & A
    • Financial results
    • Automotive
  • Data
  • Information
    • Country Overview
    • Market Sector overviews
    • Technical articles
    • Company profiles and strategies
  • Events
    • Exhibitions
    • Conferences
    • Webinars / Livestreams
    • Become a Speaker
  • Advertise
  • Contact Us
  • Issues
  • Subscribe
MENU
Breadcrumb
  1. Home
  2. News
January 11, 2010 12:00 AM

LyondellBasell may reject new bid from Reliance

Utech Staff
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    A Plastics News Report

    Mumbai, India -- Indian conglomerate Reliance Industries Ltd has boosted its offer for LyondellBasell Industries AF SCA, the world's largest polyolefins maker, according to published reports. But Rotterdam, Netherlands-based LyondellBasell may still reject the offer.

    LyondellBasell first acknowledged Reliance's offer on 21 Nov, but the terms of its offers have never been officially disclosed. The Wall Street Journal and India's Business Standard on 8 Jan reported that the latest offer was for $13 500 million, up from $12 000 million. The stories quote unidentified sources.

    The WSJ story said LyondellBasell would probably reject the offer, but that Reliance would have until February to make another offer.

    Reliance - India's largest private company - has been linked to numerous plastics and petrochemical deals in recent years, including the sale of GE Plastics and the attempted sale of the commodity plastics business of Dow Chemical Co.

    Reliance ranks as one of the world's largest polypropylene makers and rang up sales of about $29 000 million last year. LyondellBasell ranks as the largest maker of PP in both North America and the world. In North America, the firm also ranks second in markets for high and low density polyethylene.

    In polyurethanes LyondellBasell is the world's largest producer of propylene oxide (PO), used to make polyols, propylene glycols and propylene glycol ethers for the polyurethanes sector. LyondellBasell has a total of 2100 kilotonnes-per-annum capacity for PO, from two plants in the US, three in Europe and a joint-venture plant in Japan.

    "

    Recommended for You
    corn maize 800
    BASF deal with Qore secures supply of raw material for biobased TPU
    Novel XDI-based crosslinker creates flexible adhesives with good recovery
    Novel XDI-based crosslinker creates flexible adhesives with good recovery
    huntsman machine pouring LTPU 800
    Huntsman launches liquid TPU system for rapid midsole production
    Latest Issue
    urethanes technology
    Get the latest edition here
    View All Archives
    Get our newsletters

    Breaking news and in-depth coverage of essential topics delivered straight to your inbox.

    Subscribe today

    Register to access our archive of leading information on the polyurethanes industry.

    Subscribe now
    Connect with Us
    • Twitter
    • LinkedIn
    • Facebook
    • Youtube

    Follow us on social media for the latest polyurethanes industry news and event updates.

    Logo
    Contact Us

    Crain Communications
    11, Ironmonger Lane
    London
    EC2V 8EY
    United Kingdom

    Editorial
    Phone +44 (0) 20 3287 5935
    Email click to send

    Customer Service
    Phone +1 313 446 0450
    Email click to send

    Resources
    • Advertise with Us
    • Media Kit
    • Staff
    • Careers
    • Ad Choices
    • Sitemap
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • Ukraine
    • News
      • Asia
      • Americas
      • Europe
      • M & A
      • Financial results
      • Automotive
    • Data
    • Information
      • Country Overview
      • Market Sector overviews
      • Technical articles
      • Company profiles and strategies
    • Events
      • Exhibitions
      • Conferences
      • Webinars / Livestreams
      • Become a Speaker
    • Advertise
    • Contact Us
    • Issues
    • Subscribe