Rochester, NY 8/27/2009 11:40:48 PM
Arabian American Development Spared New Contract with LyondellBasell Industries
Arabian American Development Company
Arabian American Development Co. announced yesterday August 26, 2009 that its subsidiary, South Hampton Resources, Inc., has signed a new contract with LyondellBasell Industries, which is estimated at $11 to $15 million per year over the term of the contract running from August 1, 2009 through April 30, 2012 with continuation year to year thereafter. Estimated annual volume of the contract is approximately four million gallons total of normal hexane, isohexane and isopentane. The additional volume is representing an increase of approximately 40% from the previous contract.
Mark Williamson, Vice President of Marketing, South Hampton Resources, commented, "We appreciate LBI's confidence in our competitive pricing, superior product quality and our fast and flexible customer service and are grateful that they chose to increase product volumes with us that they were previously receiving elsewhere. We are continuously looking for opportunities to leverage our market leadership and are committed to providing enhanced product benefits to LBI and all of our valued customers
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