Basell agrees in principle to sell its 50% share of Polibrasil PP business to Suzano Petroquimica

22-Jun-2005

Basell announced that it has reached an agreement in principle to sell its 50% share of its Brazilian joint venture's (Polibrasil) polypropylene business to Suzano Petroquimica S.A., its partner in the enterprise. At the same time, Basell will acquire full ownership of the Polibrasil PP compounding business that produces resins primarily for the automotive industry.

Polibrasil operates polypropylene plants with a total capacity of 625 KT at three sites in Brazil and has a 25 KT compounding facility.

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