LyondellBasell to Sell Four Olefins and Polyolefins Assets in Europe

LyondellBasell announced on June 5 that it has reached an agreement with private equity firm Aequita to enter into exclusive negotiations for the sale of four olefins and polyolefins assets in Europe, along with their related businesses.

In 2024, LyondellBasell announced a strategic review of its European assets within the Olefins & Polyolefins (O&P) and Intermediates & Derivatives (I&D) business segments, responding to global petrochemical overcapacity as well as high costs and weak demand in Europe.

This proposed sale is part of its European strategic assessment and includes sites located in Berre, France; Münster, Germany; Carrington, UK; Tarragona, Spain; as well as headquarters functions in Rotterdam, the Netherlands, and support center operations at multiple locations.

According to available information, the Berre facility includes a steam cracker with an annual capacity of 465,000 tons, a low-density polyethylene unit, and a polypropylene unit. The Münster plant features a cracker with 400,000 tons of annual capacity and a high-density polyethylene unit, while both Carrington and Tarragona sites have polypropylene units.

Peter Vanacker, CEO of LyondellBasell, stated that this anticipated transaction represents an important step forward in evolving and enhancing its core business transformation. "Europe remains a core market for LyondellBasell... We will focus more on value creation by building profitable leadership in circular and renewable solutions."