Manufacturing Industry
Basell NV/selling German plant to Dow.
Plastics News, March, 2001 by Esposito, Frank
Global polypropylene powerhouse Basell NV is selling a plant in Cologne, Germany, to Dow Chemical Co. The move is the result of European regulators' concerns about Basell's dominance in that region's PP market. The 10-year-old plant produces 430 million pounds of PP annually and employs 71.
Terms were not disclosed. After Shell Petroleum NV of London and BASF AG of Ludwigshafen, Germany, merged their polyolefins assets to form Basell in late 1999, the European Commission ordered the new firm to sell 1.3 billion pounds of PP resin capacity and almost 300 million pounds of PP compounding capacity. The merger gave Basell a 40 percent share of the European PP market. Basell and regulators agreed in September on a list of eight plants that could be sold....
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