Basell: Sale of share in Taiwan Polypropylene Company
Basell announced that it has agreed to sell its 36 % share in Taiwan Polypropylene Company Ltd (TPP) to Lee Chang Yung Chemical Industry Corporation of Taiwan. In conjunction with the sale Basell will acquire all shares currently held by TPP in other Basell joint ventures in the region: SunAllomer in Japan (16.7 %), PolyMirae in South Korea (10 %) and HMC Polymers Company in Thailand (5 %).
The decision to sell the share in TPP is consistent with Basell’s strategic intent to focus in areas where it has built advantaged feedstock positions.
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