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LyondellBasell's Earnings Soar on Higher Sales, Renewed Demand

7:51 AM MST | February 18, 2011 | Lindsey Bewley

LyondellBasell reported fourth-quarter 2010 net income of $874 million ($1.54/share), compared to a net loss of $850 million for the year-ago quarter. Fourth-quarter EBITDA was $762 million, excluding a reversal of $323 million of non-cash lower of cost or market inventory charges. Sales were up 20%, to $10.6 billion, on improved demand in each of the company’s business segments.   “2010 was a great beginning for the 'New LyondellBasell’. The company enjoyed financial success while advancing the plans and processes that form the foundation...

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