Joint venture between Basell and PKN Orlen to begin operations in Plock, Poland on March 1

03-Mar-2003

The new polyolefins joint venture owned equally by PKN Orlen and Basell will begin operations tomorrow (March 1).

The new joint venture company, which will produce and market polyethylene and polypropylene in Poland, will be led by a four-member management board comprised of Hartmut Lueker, President and CEO; Malgorzata Wisnicka-Hincza, Chief Financial Officer; Marek Karol Sep, Vice President Manufacturing, and Wido Waelput, Vice President Marketing and Sales. The company's registered head office is in Plock, Poland.

"The new company will benefit from the strengths of both of its shareholders," said Lueker. "From PKN Orlen we obtain local market expertise and feedstock integration; from Basell we gain a link to a global polyolefins technology leader with broad experience in production and sales around the world."

At start-up, the new company will operate the 150 KT LDPE and 140 KT PP plants that PKN contributed to the new company until two new world-scale plants are built in Plock.

"The new joint venture will invest approximately EUR 500 million in the new units," said Wisnicka-Hincza. "They will be a 400 KT Spheripol process polypropylene plant and a 320 KT Hostalen high density polyethylene plant." Start-up of the new plants is planned for 2005. Feedstock will be provided from PKN Orlen's ethylene cracker; the cracker will be expanded to 660 KT to ensure a sufficient raw materials supply.

The new Joint Venture is in the process of registering a new company name. The intention is to have the name Basell Orlen Polyolefins Sp. z o.o.

https://www.chemeurope.com/en/news/21074/joint-venture-between-basell-and-pkn-orlen-to-begin-operations-in-plock-poland-on-march-1.html