DOMO to Acquire Basell PP manufacturing facilities in Rozenburg, The Netherlands

11-May-2001

DOMO and Basell announced today that they have signed an agreement under which DOMO will acquire all shares in Basell polypropylene B.V., which owns polypropylene manufacturing facilities in Rozenburg, The Netherlands.

DOMO will acquire the 180KT plant at Rozenburg, commissioned in 1979, for an undisclosed sum and will take over the site’s activities on June 1, subject to receipt of the relevant regulatory clearances.

The divestment of the Rozenburg capacity was undertaken by Basell to fulfil certain remedies stipulated by the European Commission when the Basell merger was approved last year. The EC required Basell 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 agreement with DOMO completes the capacity divestment requirements.

“This acquisition serves two main DOMO targets: diversification and independence,” said Jan De Clerck, president of DOMO. “The manufacturing of our own raw materials -- vertical integration -- has been DOMO’s policy since 1993. This will further strengthen our company and broaden our product portfolio.”

“DOMO has been a valued customer and we are pleased this sale agreement takes our relationship to another important level,” said Volker Trautz, Basell’s president and CEO. “I extend best wishes to the colleagues at Rozenburg who will be leaving Basell and would like to thank them for the contribution they have made to our company."

Other news from the department

Most read news

More news from our other portals

Discover the latest developments in battery technology!