Lyondell Chemical posts $28 million July operating income; sales rise

By Caroline Salls

Pittsburgh, Aug. 31 - Lyondell Chemical Co. reported $28 million of operating income for July on $1.55 billion in sales, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Southern District of New York.

The figures showed improvement over a $53 million operating loss posted in June on $1.54 billion in sales.

The net income for July was $36 million, much improved from a $210 million June net loss.

Lyondell had $249 million of cash and cash equivalents at July 31, down from $495 million at the end of June.

Lyondell is a U.S. subsidiary of LyondellBasell Industries AF SCA, a Netherlands-based polymer, petrochemicals and fuels company. LyondellBasell's U.S. operations and one of its European holding companies filed for bankruptcy on Jan. 6, 2009. The Chapter 11 case number is 09-10023.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.