LyondellBasell Industries has announced an across-the-board increase in the prices of its polyethylene and polypropylene grades by €100 per tonne in Europe, effective 1 January.
LyondellBasell, one of the world's largest polymers, petrochemicals and fuels companies, attributed the hike to an increase in input costs.
"Escalating feedstock costs have necessitated this price increase," said Anton de Vries, LyondellBasell's president of Europe, Asia and International.
LyondellBasell is the global leader in polyolefins technology, production and marketing; a pioneer in propylene oxide and derivatives; and a significant producer of fuels and refined products, including biofuels.
The company effectively uses R&D for developing innovative materials and technologies. LyondellBasell is privately owned by ProChemie GmbH, a joint venture of Access Industries and ProChemie Holding Ltd.