LyondellBasell files for Chapter 11 protection

摘要

LyondellBasell Industries in the US,together with one of its European holding companies,filed for voluntary reorganisation under Chapter 11 of the US Bankruptcy Code in January.The Chapter 11 filing applies to LyondellBasell's operations in the US and Basell Germany Holdings GmbH in Europe.Other European operations are not included said the company.CEO Vblker Trautz attributed the decision to"a dramatic softening in demand"and"unprecedented volatility in raw material costs."