Basell announced today that it intends to sell to Repsol YPF its 50% share in the 160 KT per year polypropylene plant in Tarragona, Spain that is operated by Transformadora De Propileno A.I.E., a company jointly owned by Basell and Repsol.
The parties expect to complete the transaction in the next few months following approval by the Spanish regulatory authorities.
“Basell’s goal is to focus on its wholly owned production facilities in Tarragona, which currently have an annual capacity of 360 KT of polypropylene,” said Manuel Fraga, president of Basell Iberica. ”We will continue to supply our customers from those plants and other regional sources.”
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