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Back You are here: Home Magazine Industry Headlines End-User News The Petrochemical Companies Face the Heat: Lessons From The LyondellBasell Bankruptcy

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The Petrochemical Companies Face the Heat: Lessons From The LyondellBasell Bankruptcy

It is reported by Robin Sayles in an article in the March 2009 Issue of Project Finance that there are major implications in the petrochemical industry from the filing of bankruptcy by LyondellBasell Industries, the world’s third-largest independent chemical company amid plunging sales and a cash crunch. This was following an acquisition only last July costing a whopping 18 billion dollars which led to a huge debt burden which apparently is unserviceable now.

Source: Gerson Lehrman Group

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