LYONDELLBASELL
Russian offices to close
 The company plans to close its office in Moscow (Photo: Pexels/Aghyad Najjar) |
US polyolefin group LyondellBasell (LYB, Houston, Texas; www.lyondellbasell.com) said in March 2022 that it would end its business activities in Russia after troops from that country invaded Ukraine, and now the company plans to close its two sales offices in Moscow and Togliatti responsible for the sale of polymers locally.
“Current conditions in the region are the primary drivers for this decision,” said Richard Roudeix, senior VP for olefins and polyolefins in Europe, the Middle East, Africa and India. “We recognise this is a difficult situation for our employees and have a local team in place to support them during this transition period.” The two offices together employ 18.
On 3 March, a statement from interim CEO Ken Lane said the company intended to “discontinue business relationships with Russian state-owned entities to the extent legally possible. Additionally, we are complying with all US and international sanctions which have been put into place as a result of this crisis.”
Related: Solvay suspends business with Russia
“Current conditions in the region are the primary drivers for this decision,” said Richard Roudeix, senior VP for olefins and polyolefins in Europe, the Middle East, Africa and India. “We recognise this is a difficult situation for our employees and have a local team in place to support them during this transition period.” The two offices together employ 18.
On 3 March, a statement from interim CEO Ken Lane said the company intended to “discontinue business relationships with Russian state-owned entities to the extent legally possible. Additionally, we are complying with all US and international sanctions which have been put into place as a result of this crisis.”
Related: Solvay suspends business with Russia
11.05.2022 Plasteurope.com [250256-0]
Published on 11.05.2022
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