April 30, 2021
LyondellBasell chief executive Bob Patel
Solid consumer-driven demand has helped LyondellBasell Industries to deliver promising first quarter results results, as the company starts to emerge stronger from the pandemic and the associated global recession.
Net income for the quarter was $1.1 billion, or $3.18 per share, while EBITDA was $1.6bn. This compared with net income of $855 million in the fourth quarter 2020.
Sales and other operating revenues were $9bn for the quarter, compared with $7.9bn for the prior three-month period.
“First quarter performance built upon the economic momentum we saw toward the end of last year,” admitted LyondellBasell’s chief executive Bob Patel. “During February, unusually cold weather and related power outages impacted operations in our industry across the state of Texas and reduced our production volumes. In March, we achieved the first full quarter of results for our newly-formed Louisiana joint venture.
Grand Stores unveils Samsonite Magnum Eco sustainable luggage collection on Earth Day Filed on April 24, 2021
Grand Stores, one of the leading distributors and retailers of many major global brands in the UAE has unveiled Magnum Eco - a durable, lightweight luggage collection from Samsonite that entwines the innovative advancements of recycled material RecyclexTM. In time for Earth Day, this launch marks a major innovation breakthrough in the luggage industry that takes Samsonite a step further on its responsible journey to becoming the world s most sustainable lifestyle and travel luggage company.
RecyclexTM is the recycled material technology that is applied to the complete Magnum Eco collection. The exterior shell uses recycled polypropylene and the inside fabric of each suitcase is made from recycled PET bottles. Impressively, the large Magnum Eco suitcases use recycled plastic waste equivalent to 483 yoghurt cups and 14 plastic bottles. Whist boasting an impressive
It s to be expected from Samsonite
Launched globally, Magnum Eco is an affirmation of everything that is expected from Samsonite, and as the name suggests – it s packed with eco-friendly features.
Expect sustainability. Made in Europe, the Magnum Eco is made with recycled plastic waste. This new suitcase collection is the fruit of several years of research and development and close collaboration with Quality Circular Polymers (QCP), the recycling joint venture of SUEZ and LyondellBasell.
Discover the Recycling and production process of Magnum Eco here:
Christine Riley Miller, Samsonite s Global Director of Sustainability sees this industry-first innovation as part of a bigger picture: We are continuously looking for new ways to reduce our environmental footprint across our operations. This includes innovating how our products are made so we play our part in repurposing plastic waste.
Press release content from PR Newswire. The AP news staff was not involved in its creation.
LyondellBasell Launches Family of Circulen Products to Advance Circular Solutions
April 12, 2021 GMT
ROTTERDAM, The Netherlands, April 12, 2021 /PRNewswire/ LyondellBasell (NYSE: LYB) today announced the launch of a suite of products under the name Circulen enabling brand owners to improve the sustainability of consumer products. This announcement marks the next step in LyondellBasell delivering on its sustainability goal of producing and marketing two million metric tons of recycled and renewable-based polymers annually by 2030, which is one of the most ambitious goals in the industry.
The LyondellBasell Circulen product family supports the reduction of plastic waste through the use of recycled content, and a lower carbon footprint through the use of renewable-based content as compared to feedstock from fossil-based sources. The Circulen product portfolio includes:
LyondellBasell launches Circulen sustainable polymers
LyondellBasell Industries Circulen platform of sustainable materials already is being used by Samsonite in luggage.
LyondellBasell Industries has launched Circulen, a group of materials that officials said will allow brand owners to improve the sustainability of consumer products.
In an April 12 news release, officials with the Houston-based firm said the Circulen launch marks the next step in LyondellBasell delivering on its sustainability goal of producing and marketing 2 million metric tons of recycled and renewable-based polymers annually by 2030.
They added that target is one of the most ambitious goals in the industry.
The Circulen line supports the reduction of plastic waste through use of recycled content, officials said, and provides a lower carbon footprint through use of renewable-based content as compared to feedstock from fossil-based sources.