LyondellBasell Industries N.V. (NYSE:LYB) announced that Hyosung Vina Chemicals Co., Ltd. will use the Spheripol technology of LyondellBasell for a new facility.
The process technology is expected to be utilized for a 300-KTA polypropylene plant. Notably, the plant will be built at Cai Mep Industrial Zone in Vung Tau Province, Vietnam.
Per management, the additional award for LyondellBasell's Spheripol technology from Hyosung showcases how optimistic operators are with the licensing offer. Notably, the unparalleled licensing track record of its portfolio of polyolefin technology makes the Spheripol process the technology of choice in the polyolefin industry.
The Spheripol technology is the leading process technology for polypropylene with over 27 million tons of licensed capacity. Notably, Spheripol’s new fifth-generation technology includes process improvements that further maximize the efficiency of operations. The plant will start operations, using the Avant ZN catalyst.
By optionally joining the Technical Service program of LyondellBasell, new licensees can enjoy the benefits of its in-house expertise of catalyst know-how, ongoing production improvement and sustainable product development.
Other than the Spheripol process technology, LyondellBasell’s range of approved polyolefin processes and catalysts includes Spherizone, Lupotech, Spherilene, Avant, Metocene PP and Hostalen.
Shares of the company have lost 15.2% in the past year compared with the industry’s 35.7% decline.
On the fourth-quarter earnings call, LyondellBasell expected to witness normal seasonal improvements in its businesses gradually through the second and third quarters of 2020. The company believes that a rebound in industrial demand as well as favorable resolution of trade policies will likely provide a substantial upside for the industry. It also believes that the foundations of cost management, operational excellence and disciplined capital allocation will continue to serve it amid the current challenging environment.
Given the completion of its new Hyperzone project and the expected benefits from the IMO 2020 regulations, LyondellBasell expects to extend its impressive track record of generating cash.
LyondellBasell Industries N.V. Price and Consensus
Commercial Metals Company (CMC): Free Stock Analysis Report
LyondellBasell Industries N.V. (LYB): Free Stock Analysis Report
DAQO New Energy Corp. (DQ): Free Stock Analysis Report
Novagold Resources Inc. (NG): Free Stock Analysis Report
Original post
Zacks Investment Research