Company News

LyondellBasell Sells Flavor & Fragrance Unit

Deal with Pinova includes two facilities in Southeast U.S.

LyondellBasell has sold its flavors and fragrance unit to Pinova Holdings, Inc. of Brunswick, GA.

LyondellBasell Flavors & Fragrances, LLC, which has manufacturing facilities in Jacksonville, FL and Brunswick, GA, produces terpene-based fragrance ingredients and flavor ingredients for the oral-care products as well as for the confectionery and beverage markets.

The newly acquired business will operate as Renessenz LLC.

LyondellBasell said the transaction results in after-tax proceeds of approximately $150 million.

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