Yahoo Finance LyondellBasell (LYB) Adds New Distribution Hub in Hungary
LyondellBasell Industries N.V. LYB has set up a new polyolefins distribution hub in Hungary. This move is part of the company's continued effort to improve the customer experience, as seen by the inauguration of the U.K. hub in November 2023, by bringing inventory closer to its customers' facilities and lowering order lead times.
This distribution facility in Hungary is a key addition to LyondellBasell's global footprint and represents a big step forward in giving customers speedier access to its products.
This new hub in Hungary was established through a combined effort with logistics expert Maersk. The hub will be strategically positioned in Budapest to ensure optimal distribution and fast delivery.
As a global logistics integrator, the company offers decentralized warehousing solutions as an alternative to operating out of a single, sizable distribution center that serves an entire continent. LyondellBasell is able to provide its customers with more dependable and resilient cargo flows even during turbulent times due to its expanding network of more than 470 warehouses spread across all continents and its control over logistical assets like ships, terminals, airplanes and truck fleets.
Shares of LyondellBasell have gained 11% over the past year compared with 0.1% rise of its industry.
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For the second quarter, the company anticipates seasonal demand to increase across most businesses. LYB's North American and Middle Eastern production will continue to benefit from low natural gas and NGL costs compared to higher oil-based costs in other regions.
As the summer driving season begins, oxyfuel and refining margins are likely to rise due to increased gasoline crack spreads and reduced butane costs. For the second quarter, LYB anticipates meeting market demand with average operating rates of 85% for global olefins and polyolefins assets and 80% for Intermediates & Derivatives assets. The company continues to follow targeted stimulus activities and remains watchful for improved demand in China.
LyondellBasell Industries N.V. Price and Consensus
LyondellBasell Industries N.V. price-consensus-chart | LyondellBasell Industries N.V. Quote
Zacks Rank & Key Picks
LyondellBasell currently carries a Zacks Rank #3 (Hold).
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