Category: Pakistan

The Maasvlakte site, a joint venture between LYB and Covestro.

Photo credit: Alex Lokker.

MAASSVLAKTE, Netherlands, March 18, 2025 (GLOBE NEWSWIRE) — LyondellBasell (LYB) and Covestro have jointly decided to permanently close the Propylene Oxide Styrene and Monomer (POSM) production unit (PO11) at the Maasvlakte site in the Netherlands. This decision comes after thorough and careful consideration and is driven by the continued pressure on Maasvlakte’s profitability due to global overcapacities, a strong increase of imports from Asia and high costs of European production. Unfortunately, this situation is expected to continue, so longer-term profitable production is not anticipated.

“While the decision to shut down the PO11 unit is difficult, we must ensure all assets within our portfolio are a long-term strategic fit,” said Aaron Ledet, executive vice-president, I&D and Supply Chain. “We are prioritizing our core assets which play a key role in our technology differentiation and circularity or provide attractive returns over the cost of capital. We take our obligations toward our employees, European employee reps, councils and unions seriously. We have engaged with them in line with these obligations and will continue to do so. We would like to thank them for the constructive dialogue. We are also in communication with customers, suppliers and other parties across the value chain and will continue to do business as usual. There is no change to our working relationship, and we continue to focus on providing an exceptional customer and supplier experience.”

“As part of our Sustainable Future Strategy, we’re continuously working to optimally position Covestro to be a reliable partner for our customers and to operate competitively in a challenging market environment,” said Hermann-Josef Dörholt, head of the Performance Materials Business Entity at Covestro. “Due to global overcapacities, persistently weak demand, and high costs in Europe, we have jointly decided with LYB to close the PO11 plant. We will support LYB in implementing this change as socially responsibly as possible. At the same time, we remain committed to the European market and will continue to supply customers with our renowned polyether polyols portfolio.”

The Maasvlakte site, a joint venture between LYB and Covestro, has been operational in the Rotterdam region since 2003. Between now and the end of 2026, LYB will carry out a process to safely shut down and prepare for the demolition of the asset.

In 2024, LYB announced a strategic review of European assets of its Olefins & Polyolefins (O&P) and Intermediates & Derivatives (I&D) business units. LYB has taken the next step in evaluating the option to seek alternative ownership for the O&P sites in the strategic assessment. At this time no decisions have been made and various outcomes remain possible.

About LyondellBasell
We are LyondellBasell (NYSE: LYB) ― a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors, and society. As one of the world’s largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. For more information, please visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.

About Covestro
Covestro is one of the world’s leading manufacturers of high-quality polymer materials and their components. With its innovative products, processes and methods, the company helps enhance sustainability and the quality of life in many areas. Covestro supplies customers around the world in key industries such as mobility, building and living, as well as the electrical and electronics sector. In addition, polymers from Covestro are also used in sectors such as sports and leisure, telecommunications and health, as well as in the chemical industry itself.

The company is geared completely to the circular economy. In addition, Covestro aims to achieve climate neutrality for its Scope 1 and Scope 2 emissions by 2035, and the Group’s Scope 3 emissions are also set to be climate neutral by 2050. Covestro generated sales of EUR 14.2 billion in fiscal year 2024. At the end of 2024, the company had 46 production sites worldwide and employed approximately 17,500 people (calculated as full-time equivalents).

Media Inquiries LYB Global
LyondellBasell Media Relations
Phone: +1-713-309-7575
Email: [email protected]

Or:

Media Inquiries LYB Europe
Robert Kleissen, External Affairs Europe
Phone: +31-6-273-573-98
Email: [email protected]

Media Inquiries Covestro
Markus Kleine-Beck, Corporate Trade Media Relations
Phone: +49-173-2320-686
Email: [email protected]

Svenja Paul, Corporate Media Relations
Phone: +49-214-6009-2814
Email: [email protected]

Forward-Looking Statements LYB
The statements in this release relating to matters that are not historical facts are forward-looking statements. Actual results could differ materially based on factors including, but not limited to, our ability to align our asset base with our strategic goals; and our ability to safely shut the asset described down and conduct demolition. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the “Risk Factors” section of our Form 10-K for the year ended December 31, 2024, which can be found at www.LyondellBasell.com on the Investor Relations page and on the Securities and Exchange Commission’s website at www.sec.gov. There is no assurance that any of the actions, events or results of the forward-looking statements will occur, or if any of them do, what impact they will have on our results of operations or financial condition. Forward-looking statements speak only as of the date they were made and are based on the estimates and opinions of management of LyondellBasell at the time the statements are made. LyondellBasell does not assume any obligation to update forward-looking statements should circumstances or management’s estimates or opinions change, except as required by law.

Forward-Looking Statements Covestro
This news release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro’s public reports, which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ab7935cb-361b-4c8f-82f7-81f1b6bcd387

GlobeNewswire Distribution ID 9394819

The AI-first open work platform joins the ranks of Waymo, Nvidia, Duolingo, and more

SAN JOSE, Calif., March 18, 2025 (GLOBE NEWSWIRE) — Zoom Communications, Inc. (NASDAQ: ZM), has been named to Fast Company’s prestigious list of the World’s Most Innovative Companies of 2025 for the second year in a row. This year’s list shines a spotlight on businesses that are shaping industry and culture through their innovations to set new standards and achieve remarkable milestones in all sectors of the economy. Alongside the World’s 50 Most Innovative Companies, Fast Company recognizes 609 organizations across 58 sectors and regions.

“Inclusion on the 2025 Fast Company List of the Most Innovative Companies for the second year in a row is a recognition of the vision, leadership, and dedication of our teams to continually advance Zoom’s AI-first open work platform to enable human connection, ” said Smita Hashim, chief product officer at Zoom. “At Zoom, we are reshaping the way people collaborate with AI at the core. This recognition is a testament to the speed and scale of our innovation as we meet our customers where they are, helping them work smarter, collaborate better, and achieve more.”

Zoom has evolved from a video meetings company into an open AI-first work platform built for human connection, helping customers accelerate their productivity, reimagine teamwork, and create seamless customer experiences with Zoom Workplace and Zoom Business Services.

Just yesterday at Enterprise Connect, Zoom announced the expansion of AI Companion across its entire platform with agentic skills, agents, and models to deliver high-quality results and help users improve productivity, get more work done, and strengthen relationships.

Additionally, Zoom continues to enhance its Zoom Business Services suite for marketing, customer care, and sales, which includes AI-first solutions that are tightly integrated with Zoom Workplace and designed to help customer-facing employees strengthen customer relationships and improve customer experiences.

The World’s Most Innovative Companies stands as Fast Company’s hallmark franchise and one of its most anticipated editorial efforts of the year. To determine honorees, Fast Company’s editors and writers review companies driving progress around the world and across industries, evaluating thousands of submissions through a competitive application process. The result is a globe-spanning guide to innovation today, from early-stage startups to some of the most valuable companies in the world.

“Our list of the Most Innovative Companies offers both a comprehensive look at innovation today and a playbook for the future,” said Fast Company editor-in-chief Brendan Vaughan. “This year, we recognize companies that are harnessing AI in deep and meaningful ways, brands that are turning customers into superfans by overdelivering for them, and challengers that are introducing bold ideas and vital competition to their industries. At a time when the world is rapidly shifting, these companies are charting the way forward.”

The full list of Fast Company’s Most Innovative Companies honorees can now be found at fastcompany.com. It will also be available on newsstands beginning March 25.

Fast Company will host the Most Innovative Companies Summit and Gala for honorees on June 5. The summit features a day of inspiring content, followed by a creative black-tie gala including networking, a seated dinner, and an honoree presentation.

About Zoom
Zoom’s mission is to provide one platform that delivers limitless human connection. Reimagine teamwork with Zoom Workplace — Zoom’s open collaboration platform with AI Companion that empowers teams to be more productive. Together with Zoom Workplace, Zoom’s Business Services for sales, marketing, and customer care teams, including Zoom Contact Center, strengthen customer relationships throughout the customer lifecycle. Founded in 2011, Zoom is publicly traded (NASDAQ: ZM) and headquartered in San Jose, California. Get more information at zoom.com.

ABOUT FAST COMPANY
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with fellow business publication Inc. For more information, please visit fastcompany.com.

Zoom Public Relations
Bridget Moriarty
[email protected]

GlobeNewswire Distribution ID 9395758

EAACI Congress 2025 banner

EAACI Congress 2025 banner

ZURICH, March 18, 2025 (GLOBE NEWSWIRE) — The European Academy of Allergy and Clinical Immunology (EAACI) proudly presents the EAACI Congress 2025, set to take place June 13-16 in Glasgow, United Kingdom. This year’s theme, “Breaking Boundaries in Allergy, Asthma, and Clinical Immunology: Integrating Planetary Health for a Sustainable Future,” highlights the critical link between environmental changes and allergic diseases.

Scientific Excellence & Global Collaboration

Bringing together leading experts from across the world, EAACI Congress 2025 is the premier event for networking and collaboration in allergy and immunology. Delegates can expect cutting-edge research presentations, interactive sessions, and invaluable opportunities to connect with peers shaping the future of the field. Visit the scientific programme to learn more.

Premier Venue & Registration Details

The congress will be hosted at the Scottish Event Campus (SEC), the UK’s largest integrated conference and exhibition centre. Located in the heart of Glasgow, SEC offers state-of-the-art facilities and an engaging atmosphere for scientific exchange.

Glasgow, a vibrant city on the banks of the River Clyde, is known for its striking architecture, contemporary art scene, and renowned music venues, providing the perfect setting for this landmark event.

Standard registration fees are available until April 18th, with tailored rates for EAACI members, non-members, seniors, juniors, students, nurses, and lab technicians—ensuring accessibility for all professionals in the field.

Industry Activities & Exhibition

The EAACI Congress 2025 offers an exclusive platform for industry leaders to showcase innovations in allergy and immunology. The exhibition area will feature cutting-edge products and therapies, fostering interaction between delegates and industry partners through dynamic presentations and engaging activities.

Special Highlight: Allergy Run 2025

An exciting feature of the congress is the Allergy Run 2025, a community event promoting awareness of allergy, asthma, and immunology while encouraging a healthy lifestyle. Stay tuned for details on how to participate!

Registration & More Information

Visit the EAACI Congress 2025 website to explore the full program and secure your spot. Follow EAACI on social media for the latest updates.

About EAACI

The European Academy of Allergy and Clinical Immunology (EAACI) is the leading professional organization dedicated to excellence in allergy and immunology. Learn more at https://eaaci.org.

Contact: [email protected]

+41 44 205 55 33

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/26f65a77-9d14-450a-ae0f-52c3f689ffb4

GlobeNewswire Distribution ID 1001054330