Basell has expanded its agreement with Hyundai Engineering Plastics (HEP) to a global scale by developing and qualifying materials for a variety of automotive applications in multiple regions of the world. HEP, part of Hyundai Industrial Development Company (HIDC), is a leading supplier of compounded products in South Korea.

The Basell relationship with HEP, which began in South Korea in June 2004, has grown into one that is ”exclusive and truly global,” according to Frank Noeltgen, vice president of Basell Advanced Polyolefins, Automotive Asia-Pacific. “Basell has the capability of producing compounded products for Hyundai in all major regions of the world to uniform specifications that were originally developed by HEP in South Korea,” said Noeltgen. “We support Hyundai’s production efforts with Supol* compounded products manufactured under license and we service and support those grades on behalf of HEP globally.”

Dr. Kang, Chang-Kyun, Executive Vice-President of Hyundai Engineering Plastics, said, “I am very pleased with the alliance between HEP and Basell. This alliance has assisted in the commercial start-up of several new Hyundai/Kia motor companies’ overseas plants. In addition, it has solidified our position and commitment as being a global leader in supplying engineering polyolefin materials for automotive applications. Our relationship with Basell will assist globally in providing high quality resins, stable supply and good technical services to Hyundai/Kia Motors’ tier one and tier two companies.”

In the Basell-HEP alliance in North America, Basell produces Supol compounded grades for the 2006 Hyundai Sonata, which is assembled at the Hyundai facility in Montgomery, Alabama. This supply arrangement was recently expanded to support Hyundai’s tier one and tier two suppliers for the 2007 Hyundai Santa Fe SUV, which was introduced in April.

"Perhaps the most important industry requirement for automotive manufacturers is for them to be more competitive and more global at the same time,” said Dongik Lee, chief representative of Basell Korea. “The strategic win-win alliance between an emerging Asian engineering plastics company like HEP and a global plastics leader like Basell is a good business model in terms of being able to reduce both the time required for localization, as well as reducing production costs."

Basell is the world's largest producer of polypropylene and advanced polyolefin products, a leading supplier of polyethylene and catalysts, and a global leader in the development and licensing of polypropylene and polyethylene processes. Basell, together with its joint ventures, has manufacturing facilities around the world and sells products in more than 120 countries. Additional information about Basell is available at www.basell.com.

*Supol is a trademark of Hyundai Engineering Plastics.

Press Contact: Michelle Harrell, Basell Corporate Communications, at  +1 410 996 1366, +1 302 438 6574 or michelle.harrell@basell.com

Business Contact: For more information about purchasing Basell automotive products, contact Brian Page at +1 905 336 0258 or brian.page@basell.com