Basell purchases Solvay Engineered Polymers

Resin manufacturer Basell has signed a definitive agreement to acquire Solvay Engineered Polymers, Inc., a leading supplier of polypropylene compounds in North America.

The transaction is subject to relevant regulatory approvals and is expected to close in early 2008.

“The acquisition of Solvay Engineered Polymers will complement Basell’s existing Polymer-based Composite Materials and Alloys (PCMA) business in North America, and by combining these businesses we will be better positioned to serve our customers in this region with products designed to meet their needs,” said Paul Yeates, President of Basell Advanced Polyolefins. “In addition, there will be an excellent opportunity to learn from one another and combine each other’s application and product-development strengths.”

Basell, together with its joint ventures, has manufacturing facilities in 19 countries and sells products in more than 120 countries. The company reported sales of approximately US$13 billion in 2006.

Solvay Engineered Polymers is a unit of the Solvay international chemical and pharmaceutical group, which has its headquarters in Brussels. The company employs approximately 29,000 people in 50 countries, and reported consolidated sales of 9.4 billion in 2006.