NEW YORK, Aug. 29, 2012 /PRNewswire/ --LyondellBasell Industries NV (NYSE:LYB) will replace Sears Holdings Corp. (NASD:SHLD) in the S&P 500 after the close of trading on Tuesday, September 4. Sears' public float has been well below the 50% threshold for inclusion for an extended period of time and is no longer considered representative of the index.
LyondellBasell Industries manufactures and sells chemicals and polymers, refines crude oil, produces gasoline blending components, and develops and licenses technologies for the production of polymers. Headquartered in Rotterdam, The Netherlands, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Specialty Chemicals Sub-Industry index.
Following is a summary of the change:
S&P 500 INDEX - September 4, 2012 | |||
COMPANY | GICS ECONOMIC SECTOR | GICS SUB-INDUSTRY | |
ADDED | LyondellBasell | Materials | Specialty Chemicals |
DELETED | Sears Holdings | Consumer Discretionary | Department Stores |
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