Basell has acquired ownership of the 50% portion of Argentina’s Petroken Petroquimica Ensenada that was formerly held by its partner in the joint venture, Repsol YPF.

“We are very pleased that we have expanded our investment in Argentina, which is in line with our ongoing portfolio management in South America and will allow us to build upon our business activities in this key growth region,” said Manuel Fraga, senior vice president of Basell International. “

Petroken operates a 180 KT per year polypropylene plant, a 20 KT per year compounding facility and a propylene splitter in Ensenada. The acquisition will have no impact on Petroken’s operations, its leadership or its staffing.

In addition to being the world's largest producer of polypropylene, Basell is the largest producer of 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