Yahoo Finance LyondellBasell (LYB) Licenses Polyolefin Technology to Ningxia
LyondellBasell Industries N.V. LYB recently announced that Ningxia Baofeng Energy Group Co., Ltd. selected its world-leading polypropylene, high-density polyethylene and low-density polyethylene technologies for three new polyolefin production lines.
The construction of new lines will take place in Ningxia Baofeng’s complex in Yingchuan City, P.R. China.
The three polyolefin lines with a total production capacity of more than 1,100 kta signifies LyondellBasell’s technology licensing capabilities. The prospects to opt for a single provider of well-proved technologies and market reference products are an attractive aspect for many future operators, the company noted.
New licensees can leverage LyondellBasell’s in-house expertise of ongoing production improvement, sustainable product development and catalyst knowhow, by optionally joining its Technical Service program.
Shares of LyondellBasell have surged 88.9% in the past year compared with 72.4% rise of the industry.
The company, in its last-earnings call, noted that improving trends seen last month are continuing in the first quarter of 2021. The Olefins and Polyolefins businesses are witnessing strong margins due to increased export demand to China and Latin America. The company formed a new joint venture this month to build its second world-scale propylene oxide and styrene monomer unit in China.
The company plans to lower debt and believes that it is well placed to drive profitability through its growth initiatives, which will increase free cash flow and strengthen its investment grade balance sheet.
LyondellBasell Industries N.V. Price and Consensus
LyondellBasell Industries N.V. price-consensus-chart | LyondellBasell Industries N.V. Quote
Zacks Rank & Key Picks
LyondellBasell currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space include Fortescue Metals Group Limited FSUGY, Ashland Global Holdings Inc. ASH and Impala Platinum Holdings Limited IMPUY.
Fortescue has a projected earnings growth rate of 107.8% for the current fiscal. The company’s shares have surged 123.3% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Ashland has an expected earnings growth rate of 83.2% for the current fiscal. The company’s shares have gained 69.1% in the past year. It currently sports a Zacks Rank #1.
Impala has an expected earnings growth rate of 197.6% for the current fiscal. The company’s shares have rallied 267.6% in the past year. It currently flaunts a Zacks Rank #1.
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