Jul 9 2002
Israel’s Dor have signed a definitive agreement to purchase Shorko Australia from Basell. Shorko is a wholly owned subsidiary of Basell that produces polypropylene films. The sale is anticipated to be completed by the middle of August.
The sale enables to Basell to concentrate on its core businesses which include polypropylene, polyethylene and advanced polyolefins and related technologies. At the same time it offers Shorko the freedom to continue to develop its polypropylene film business as a dedicated business unit.
This sale follows on from a previous transaction whereby Dor Chemicals acquired 80% of Moplefan’s shares from Basell. This increased Dor’s market share in the field of BOPP and cast films and is consistent with their objective to become a leader in this field.
For more information on polypropylene, click here.