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Article: Basell to sell share in TPP.(divesting shares of Taiwan Polypropylene Company Ltd. to Lee Chang Yung Chemical Industry Corp.)(Brief article)
- Article from:
- China Chemical Reporter
- Article date:
- August 16, 2006
CopyrightCOPYRIGHT 2006 China National Chemical Information Center. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Basell announced on July 22nd, 2006 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 transactions are expected to be completed in August 2006.
"Basell and its predecessor companies have had an excellent shareholder relationship with TPP for more than three decades," ...