Dutch chemical company LyondellBasell said Tuesday it plans to sell a French refinery because the refinery hasn’t fulfilled the company’s financial expectations for the operation.
LyondellBasell didn’t say how much it would ask for the Berre, France refinery. It expects to retain an investment banking firm to assist with the sale. The refinery was acquired in 2008 under the company’s former management.
The company said it will hold on to the chemical assets at the site, including a petrochemical plant and polypropylene and polyethylene plants that are owned and operated by a subsidiary.
