Basell to acquire Akzo Nobel’s Polymerization Catalysts & Components Business
February 14, 2006 – Basell and Akzo Nobel have signed agreements whereby Basell will acquire Akzo Nobel’s Polymerization Catalysts & Components business. The business includes catalyst manufacturing and other assets located at Edison, New Jersey in the United States. The deal is expected to be completed in the second quarter of 2006, following regulatory notifications and approvals.
“Basell and Akzo Nobel have a long history of successful cooperation,” said Volker Trautz, Basell’s CEO. “Akzo Nobel’s Edison site has been producing Avant catalysts for Basell licensees for nearly 20 years. Our primary interest in acquiring these assets is to better ensure long term security of supply for our catalyst customers world-wide. However the other business activities at the site are also a good fit with our Catalyst Business and will enhance our product offerings.”
In addition to Basell’s Avant catalysts, the Edison site includes assets for the toll production of other polyolefin custom catalyst systems and the preparation of catalyst components and other speciality chemicals.
Akzo Nobel’s divestment of its Polymerization Catalyst & Components Business is part of a restructuring program the company initiated last year to focus its portfolio in five strategic areas: pulp & paper chemicals, polymer chemicals, surfactants, functional chemicals and base chemicals.
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.
For more information contact: Chantal Sohm, Basell Corporate Communications,
at +33 1 55 51 21 19 or at +33 6 72 68 30 93 or chantal.sohm@basell.com
