Basell announced today that it has reached an agreement in principle to sell its 50% share of its Brazilian joint venture’s (Polibrasil) polypropylene business to Suzano Petroquimica S.A., its partner in the enterprise. At the same time, Basell will acquire full ownership of the Polibrasil PP compounding business that produces resins primarily for the automotive industry.

Polibrasil operates polypropylene plants with a total capacity of 625 KT at three sites in Brazil and has a 25 KT compounding facility.

“We have enjoyed a valued relationship with Suzano for over three decades, and wish them success in their future activities,” said Ian Dunn, president of Basell International. “We continue to believe that Brazil and South America are important, strategic markets for polyolefins. This decision is a reflection of Basell’s ongoing portfolio management, which includes looking at every aspect of our business and asset base on a regular basis.”

“We will continue to have access to all markets in South America for all of Basell’s products,” said Dunn. “Our existing strategic investments and the completion of the new compounding plant in Brazil will enable Basell to continue providing exemplary support and value to our South American polypropylene and advanced polyolefins customers.”

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