Lyondell reports $129 million operating loss for December; sales up

By Caroline Salls

Pittsburgh, Feb. 1 - Lyondell Chemical Co. reported a $129 million operating loss for December on $1.669 billion in sales, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Southern District of New York.

In November, the company posted a $42 million operating loss on $1.616 billion in sales.

The net loss for December was $66 million, narrowing significantly from a $305 million November net loss.

Lyondell had $280 million in cash and cash equivalents at Dec. 31, down from $327 million at the end of November.

Lyondell is a U.S. subsidiary of LyondellBasell Industries AF SCA, a Netherlands-based polymer, petrochemicals and fuels company. LyondellBasell's U.S. operations and one of its European holding companies filed for bankruptcy on Jan. 6, 2009. The Chapter 11 case number is 09-10023.

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