Alloy Polymers of Richmond, Virginia and Basell of Hoofddorp, The Netherlands jointly announced the completion of the sale of Basell USA Inc.'s 110-million-pound polypropylene compounding facility located in Gahanna, Ohio to Alloy Polymers.
According to terms of the sale, Alloy Polymers will provide toll compounding services to Basell for a four-year period to ensure there is no disruption to the Basell customer base served by the Gahanna plant. In addition, a services and license agreement has been established that will allow Alloy Polymers to manufacture and sell certain compounded products that are no longer part of Basell’s core business strategy.
"We are very pleased to have reached a successful conclusion to this transaction and are confident the Gahanna plant will continue to make important contributions to Basell’s compounding business," said Sergio Danesi, president of Basell’s Global Value Business. "Going forward we will work closely with Alloy Polymers to ensure that our customers’ needs are met and that there is a smooth transition to the new owner."
"The acquisition of the Gahanna plant gives Alloy Polymers a new platform to broaden our horizons, expand customer relationships and further demonstrate our ongoing commitment to providing our customers in North America with the most meaningful Value Propositions through operational excellence and continuous improvement," said Subhash Pahuja, president & CEO of Alloy Polymers.
Basell develops, produces and markets polypropylene, polyethylene, advanced polyolefin materials and polyolefin catalysts and also develops and licenses polyolefin processes. With research and development centres in Europe, North America and the Asia-Pacific region, Basell is committed to continuously extending the property profile of its polyolefins portfolio and to developing with its customers a shared agenda for bringing new products to market as quickly as possible. Basell and its joint ventures serve customers in more than 120 countries with materials produced in 18 countries. The company’s Internet address is www.basell.com.
Alloy Polymers is a leading toll compounder of engineering thermoplastics and high performance polypropylene compounds and alloys with over 100 million pounds of nameplate capacity at its Richmond facility and 110 million pounds at its newly acquired Gahanna facility. Alloy Polymers, a minority-owned company, is one of the only North American toll compounders with QS 9000, ISO 9002 and A2LA certification dedicating 100% of its capacity and resources to meeting the production and service requirements of its customers. The U.S. Senate recognized Alloy Polymers for outstanding accomplishment in quality and productivity, and Ernst and Young honored Subhash Pahuja as an Entrepreneur of the Year in the Master Category for the State of Virginia. For more information on Alloy Polymers, visit their web site at www.alloypolymers.com.
For more information, contact Michelle Talmo of Basell USA at +1.302.996.6073 (michelle.talmo@basell.com) or Jim Kochanski at Alloy Polymers at +1.804.232.8000, Ext. 108 (jimkochanski@alloypolymers.com).
