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Article: Brussels-Based Firm Agrees to Trade Deer Park, Texas, Propylene Plant to BP.(Knight Ridder/Tribune Business News)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- December 20, 2000
- Author:
CopyrightCOPYRIGHT 2000 Knight-Ridder/Tribune Business News. 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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Dec. 21--Brussels-based Solvay S.A. has tentatively agreed to trade a Deer Park plant that has the capacity to make 800 million pounds of polypropylene a year to BP.
It also has agreed to enter into a joint venture with the British company on its high- density polyethylene plant in Deer Park. That facility has the capacity to produce 1.9 billion pounds of polyethylene a year.
What is to this point a memorandum of understanding also covers plants in Europe: Solvay is swapping its polypropylene business for BP's engineering polymers business.
The financial details are to be announced during the second quarter. The deal is expected to close in ...