en.Wedoany.com Reported - LyondellBasell has completed the sale of some of its European olefins and polyolefins assets to AEQUITA, marking the establishment of the new company Velogy. The transaction involves assets located in Berre, France; Münchsmünster, Germany; Carrington, UK; and Tarragona, Spain. LyondellBasell will continue to operate its Advanced Polymer Solutions business in Tarragona.

Headquartered in Rotterdam, Netherlands, Velogy has approximately 1,700 employees, serving over 1,600 customers with more than 150 products across over 60 national markets. Its products are used in sectors such as infrastructure, transportation, packaging, construction, healthcare, and consumer goods.

Velogy CEO Richard Roudeix stated: "Velogy combines velocity, energy, and innovation. Europe needs strong, reliable material partners that combine manufacturing excellence with commercial agility." LyondellBasell CEO Peter Vanacker said: "This transaction optimizes our portfolio and enhances our ability to allocate capital to create long-term value." AEQUITA Founder and Chairman Axel Geuer also noted: "This closing is an important step in building a scaled, competitive European polymer platform."

Velogy's operating model emphasizes eliminating complexity and accelerating decision-making speed, aiming to provide faster and more efficient service to European customers. The company plans to further expand its scale through the acquisition of SABIC's European petrochemical business.

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