BASF/Shell to name polyolefins jv Basell

11 April 2000 12:44  [Source: ICIS news]

LONDON (CNI)--Anglo Dutch group Shell Chemicals and Germany's BASF are to name their proposed polyolefins joint venture Basell, Hans Christian Bruhn, vice president of BASF's Targor polypropylene (PP) unit, confirmed to CNI on Tuesday.

The joint venture had previously been given the codename Nicole.

The merger between Targor, Shell's Montell PP unit and the Shell/BASF Elenac polyethylene (PE) joint venture is awaiting US approval following sanction by the European Commission (EC) last month.

"We hope to get [US Federal Trade Commission (FTC)] approval very quickly," said Bruhn. The FTC would only need to investigate technology issues since there is no overlap in the operational business in the region, he added.

To obtain EC approval, BASF and Shell agreed to divest plants with the capacity to produce 620 000 tonne/year of PP resins and 130 000 tonne/year of PP compounds and to sell Targor's Novolen PP technology business. Bruhn declined to comment on how the disposals are progressing, but said there is "clear interest" from potential purchasers.

Shell and BASF already have a styrene monomer and propylene oxide joint venture under the Basell name.

By: Anna Jagger
+1 713 525 2653

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly