Shell Chemicals companies and Basell today signed agreements for the sale of Shell Petrochimie Mediterranee’s (SPM) 50% share in Société du Craqueur de l’Aubette (SCA) to Basell. 

SCA owns the ethylene cracker at Berre in southern France and Basell currently holds 50% of the SCA shares. Once the transaction is completed, the cracker will be wholly-owned by Basell.

As part of the agreement, Basell will also acquire the butadiene business of Shell at Berre, including the butadiene assets, as well as logistic assets associated with the cracker operation in Aubette, Berre and Fos.

SPM will continue to operate the cracker, logistic assets and butadiene plant under the terms of the relevant operating agreements with Basell. 

The transaction is subject to approval by the relevant antitrust authorities and other customary closing conditions. Completion of the transaction is expected at the end of 2005.

“This transaction enables us to fully integrate the cracker with our state of the art PP and PE plants at Berre and PE plant in Fos and will strengthen Aubette as a strategic platform to support our polyolefin business for the long term," said Frans Jongen, executive vice president of manufacturing and services at Basell.

Graham van’t Hoff, Shell Chemicals Vice President for Base Chemicals Europe, said:  “Basell is a very important customer for Shell and we are delighted that we have been able to secure a deal which brings value to Shell and strategic benefits to Basell.”

Enquiries:
Shell Media Relations, Bianca Ruakere, at: +44 (0)20 7934 2914 or Bianca.ruakere@shell.com
Basell Corporate Communications, Michelle Harrell, at +1 410 996 1366,
+1 302 438 6574 or michelle.harrell@basell.com

Notes to editors:
• You can download a high resolution photograph of the Berre complex from the Image Library at www.shell.com/chemicals/news
• 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
• Shell Chemicals collectively refers to the companies of the Shell Group engaged in the chemicals business.  With a multibillion dollar turnover and major manufacturing facilities around the world, Shell Chemicals focuses on the production of bulk petrochemicals and their delivery to large industrial customers. These products are widely used in plastics, coatings, detergents and many other everyday materials.  For further information: www.shell.com/chemicals/news
• “The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate entities. In this document, the expressions “Shell”, “Group” and “Shell Group” are sometimes used for convenience where references are made to Group companies in general.  Likewise, the words “we”, “us” and “our” are also used to refer to Group companies in general or those who work for them. These expressions are also used where there is no purpose in identifying specific companies.”