OverviewLyondell to Market MTBE on ChemConnect
MAIDENHEAD, England and HOUSTON, Texas (February 17, 2003) - Lyondell Chemical Company, the world's leading marketer of MTBE, has announced that, starting in February 2003, it will market its MTBE through ChemConnect (www.chemconnect.com), a leader in helping customers optimize purchasing and sales processes. In addition to ChemConnect, Lyondell will continue to market MTBE through existing direct and third-party sales channels.
Lyondell will regularly feature postings on the trading site. Product can be offered from North-West Europe on an FOB/FCA basis for barge or rail tank cars.
"Our main objectives for marketing MTBE through an electronic platform such as ChemConnect are to increase price transparency, transact sales in future months, and offer an additional sales channel for our customers," says Lyondell's European MTBE Trader, Murray Barter. "We are making this commitment towards these objectives, and we invite others to join this medium now to ensure its success. We are pleased with the performance of the new ChemConnect site which offers participants real-time dealing within a pre-approved environment."
About Lyondell About ChemConnect Caution Concerning Forward-Looking Statements Note to Editors: ChemConnect is a registered trademark of ChemConnect, Inc. All other product, trademark, company or service names mentioned herein are the property of their respective owners.
Lyondell Chemical Company, (www.lyondell.com), headquartered in Houston, Texas, is a leading producer of: propylene oxide (PO); PO derivatives, including toluene diisocyanate (TDI), propylene glycol (PG), butanediol (BDO) and propylene glycol ether (PGE); and styrene monomer and MTBE as co-products of PO production. Through its 70.5% interest in Equistar Chemicals, LP, Lyondell also is one of the largest producers of ethylene, propylene and polyethylene in North America and a leading producer of ethylene oxide, ethylene glycol, high value-added specialty polymers and polymeric powder. Through its 58.75% interest in LYONDELL-CITGO Refining LP, Lyondell is one of the largest refiners in the United States, principally processing extra heavy Venezuelan crude oil to produce gasoline, low sulfur diesel and jet fuel.
ChemConnect is a leader in helping customers optimize their purchasing and sales processes for chemicals, plastics, and related products through a unique combination of market information, industry expertise, e-commerce solutions, and an active network of trading partners. More than 7,500 Member companies in multiple industries around the world can use ChemConnect's highly efficient tools and services to streamline transactions and lower costs. Visit www.chemconnect.com for more information.
This document includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors. These factors include technological developments and customer demand.