DOMO to Acquire Basell PP 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."
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