ExxonMobil Chemical Acquires Basell's Shares in CIPEN plant
05-Oct-2004
ExxonMobil Chemical announced the acquisition of Basell's 50 percent share in the Compagnie Industrielle des Polyéthylènes de Normandie (CIPEN) plant in Notre Dame de Gravenchon, France, giving it 100 percent ownership of the facility. The plant manufactures linear low density polyethylene (LLDPE) resins. The acquisition is effective as of October 1, 2004.
"Market acceptance of metallocene-based polyethylene resins continues to grow rapidly and we are committed to extending our global supply capability to meet the growing needs of our customers," said Jim Harris, senior vice president, ExxonMobil Chemical Company. "This acquisition clearly demonstrates our strong commitment to our customers and to the industry."
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