HOUSTON, Jan. 22, 2019 /PRNewswire/ -- LyondellBasell (NYSE: LYB), one of the largest plastics, chemicals and refining companies in the world, today announced it has been named to Fortune Magazine's 2019 list of the "World's Most Admired Companies." This marks the second year that LyondellBasell has made the list.
"This honor is a direct result of our employees' commitment to operating with excellence and their relentless focus on capturing opportunity and delivering value for our stakeholders," said Bob Patel, CEO of LyondellBasell. "As we begin 2019, we remain committed to providing high quality products and services to our customers, while advancing important initiatives like the newly formed Alliance to End Plastic Waste and the commissioning of the world's first Hyperzone PE plant."
According to Korn Ferry, who administers the survey for Fortune Magazine, the "World's Most Admired Companies" study surveys top executives and directors from eligible companies, along with financial analysts, to identify the organizations that enjoy the strongest reputations within their own industries and across industries. Survey respondents are asked to evaluate companies in the categories of:
- Ability to attract and retain talented people
- Quality of management
- Social responsibility to the community and the environment
- Quality of products or services
- Wise use of corporate assets
- Financial soundness
- Long-term investment value
- Effectiveness in doing business globally
In 2018, LyondellBasell:
- Improved on its industry-leading safety record;
- acquired A. Schulman Inc., doubling its compounding business, opening new end markets and creating a platform for future growth;
- broke ground on the world's largest Propylene Oxide/Tertiary Butyl Alcohol plant in Texas, and advanced the construction of the world's first Hyperzone Polyethylene (PE) plant in Texas;
- advanced sustainability and the circular economy through a first-ever plastics recycling partnership between a waste management company (Suez) and plastics producer (LyondellBasell); and,
- played a leadership role in founding the global, cross-value chain Alliance to End Plastic Waste.
More information on Fortune's "World's Most Admired Companies" list can be found here.