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News

ExxonMobil Chemical acquires Basell's shares in CIPEN plant

ExxonMobil Chemical Co : 01 October, 2004  (Company News)
ExxonMobil Chemical has announced the acquisition of Basell's 50% share in the Compagnie Industrielle des Poly
ExxonMobil Chemical has announced the acquisition of Basell's 50% share in the Compagnie Industrielle des Polyéthylènes de Normandie (CIPEN) plant in Notre Dame de Gravenchon, France, giving it 100% percent ownership of the facility.

The plant manufactures linear low density polyethylene (LLDPE) resins. The acquisition is effective as of 1 October 2004.

'Market acceptance of metallocene-based polyethylene resins continues to grow rapidly and we are committed to extending our global supply capability to meet the growing needs of our customers,' said Jim Harris, Senior Vice President, ExxonMobil Chemical Company. 'This acquisition clearly demonstrates our strong commitment to our customers and to the industry.'
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