Dow Acquires Former Basell plant in Cologne

26-Mar-2001

The Dow Chemical Company and Basell announced today that they have reached agreement on the sale of the Basell polypropylene plant in Cologne, Germany.

Under the terms of the agreement, Dow will acquire the plant and associated business for an undisclosed sum and will take ownership of the site on 01 April 2001. The modern manufacturing site, built in 1991, employs 71 people and can produce 195,000 tons (430 million lbs) of polypropylene each year.

In order to resolve competition concerns raised by the European Commission before the Basell merger was approved, Basell is required to divest polypropylene resin plants with a capacity to produce at least 600KT and PP compounding plants with a capacity to produce at least 130KT. The sale of the Cologne plant helps to satisfy part of the divestment requirements.

"This acquisition is an important step for our polypropylene business", says Romeo Kreinberg, business group president for Polyolefins and Elastomers businesses of Dow. "The Cologne unit uses UnipolÒ production technology, matching the technology and assets we recently acquired from Union Carbide. Dow can now offer a much broader array of technologies, products and services to our customers".

"We are pleased that we have reached this agreement and have moved a step closer to fulfilling the divestment requirements set forth by the European Commission," said Volker Trautz, Basell's President and CEO. "I extend best wishes for the future to the colleagues who will be leaving Basell and I thank them for the contributions they have made to our company."

https://www.chemeurope.com/en/news/2215/dow-acquires-former-basell-plant-in-cologne.html