Following recent encouraging signals from the London Metals Exchange (LME), Basell has decided to list as a participant producer on the LME.

“This initiative from Basell is consistent with our view that a shorter dated contract, a spot marker, is a vital ingredient for the LME's plastics contract to work effectively,” said Hans-Robert Schmidt, senior vice president of Basell Polyolefins in Europe. “Now that the LME has indicated a willingness to finalize such a marker, we will actively renew our relationship with them once again.”

“Basell has been following the LME activity very closely over recent months and liquidity is growing slowly,” said Schmidt. “As one of the major producers of polyolefins, the time is now right to list. We are optimistic that when the LME incorporates this spot price marker, a transformation of the plastics industry pricing structure will result.”

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