Lyondell operating income soars to $172 million in March; sales up

By Caroline Salls

Pittsburgh, April 30 - Lyondell Chemical Co. reported $172 million of operating income for March on $2.118 billion in sales, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the Southern District of New York.

The figures showed improvement over the $10 million of operating income posted for February on $1.858 billion in sales.

The March net income was $80 million, up from a $129 million February net loss.

Lyondell had $311 million of cash and cash equivalents at March 31, down from $377 million at the end of February.

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.

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