Actuality December 21, 2007

Chemical group Basell, controlled by Access Industries of Leonard Blavatnik, and American Lyondell Chemical completed amalgamation. As a result is established the new company – Lyondellbasell Industries, is said in the joint press-release of the companies.

The sum of transaction on the acquisition of Lyondell stocks by Basell Company totaled about $20 bln, including the debt of the American company.

New Lyondellbasell Industries will become the third world largest independent chemical company. Its profit totals about $43 bln. The company owns 60 productive assets in 19 countries on five continents.

"We established the world leader in petrochemical industry, with exceptional opportunities both in the production of chemical goods and fuels", declared Volker Trautz, the head of the new company.

Lyondellbasell is the world largest producer of polypropylene and higher polyolefins, and also the leading supplier of polyethylene and catalysts and licenses for the production of polyolefins.

Lyondellbasell owns Access Industries. The company head office is located in Netherlands.

American Access Industries was established in 1986 by businessman of soviet origin Blavatnik. The company owns assets in oil, aluminium, coal and telecommunication industries.