BASF Australia sells PP business to affiliate Basell

08 November 2001 01:00  [Source: ICIS news]

SINGAPORE (CNI)--BASF Australia has sold its polypropylene (PP) compounds business to affiliate Basell Australia for an undisclosed amount, according to a statement issued on Thursday by both companies.

The acquisition, effective from December 2001, does not include any of the other production assets of BASF Australia, whose engineering plastics business will continue to operate as an important unit supplying the Australian and New Zealand markets with high performance polymers such as Ultramid and Ultradur.

The compounds business will be operated by PolyPacific Australia, which is jointly owned by Basell Australia and privately-owned Australian company Mirlex.

PolyPacific has a major production and technical facility at Dandenong in Victoria, as well as a manufacturing and sales operations in Malaysia.

Basell, a 50/50 joint venture between BASF and Shell, is a global leader in PP compounds production and is the world's fifth largest polyethylene (PE) supplier.

With sales of about Euro36bn ($32bn) in 2000, BASF is one of the world's leading chemical companies.

By: Staff Reporter
+44 20 8652 3214

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