Basell USA Inc. and ConocoPhillips Sign Polypropylene Sales Agreement.Business/Energy Editors HOUSTON--(BUSINESS WIRE)--Oct. 1, 2002 Basell USA Inc. and ConocoPhillips (NYSE NYSE See: New York Stock Exchange :COP) today announced the signing of an agreement under which Basell will be the exclusive purchaser and marketer of the polypropylene resins produced at ConocoPhillips' new Bayway plant in Linden Linden, city, United States Linden, city (1990 pop. 36,701), Union co., NE N.J., in the New York metropolitan area; inc. 1925. During the first half of the 20th cent. , N.J. The 775 million pounds-per-year plant is scheduled to start up early next year. "We are pleased to be joining forces with Basell, an acknowledged worldwide leader in the production and sales of polypropylene, to get Bayway's new polypropylene capacity into the marketplace," said Tom Nimbley, senior vice president of refining for ConocoPhillips. "Add the Bayway plant's ability to produce a full range of polypropylene products -- including homopolymers and random and impact copolymers -- and our new arrangement with Basell, and we believe we have a winning combination." Basell, a 50/50 joint venture of BASF BASF Bar Association of San Francisco (since 1872; San Francisco, California) BASF Badische Anilin und Soda Fabrik (German chemical products company) BASF Builders Association of South Florida and Royal Dutch/Shell, is the world's largest producer and marketer of polypropylene. The addition of the Bayway plant capacity will increase the polypropylene capacity Basell sells in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. to more than four billion pounds per year. "The favorable location of the Bayway plant and ConocoPhillips' noted commitment to operating excellence in combination with Basell's marketing and sales expertise will further enhance our level of service to our customers," said Chuck Platz, president of Basell North America. "We believe this is a creative and efficient way to move forward and expand our polypropylene product offering in an ultra-competitive industry." Polypropylene is a versatile polyolefin plastic that has a wide performance range in the diverse and ever-expanding plastics industry and has a range of applications, including the automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. , fibers for baby diapers, films, rigid packaging containers, outdoor furniture, carpets and sanitary medical products. ConocoPhillips is a major international integrated energy company with operations in some 49 countries. Headquartered in Houston, the company has assets of $75 billion, net proved reserves proved reserves The quantity of minerals expected to be recoverable under current economic and operating conditions. The amount of proved reserves is important in valuing the stock of a company with significant holdings in natural resources. of 8.7 billion barrels of oil equivalent (BOE BOE Based on Experience BOE Board of Education BOE BoletÃn Oficial del Estado (Spanish) BOE Bank of England BOE Board of Equalization BOE Board of Elections BOE Barrel of Oil Equivalent BOE Bind on Equip ), and daily production of 1.7 million BOE. More information about the company can be obtained at www.conocophillips.com In addition to its global leadership position in polypropylene, Basell develops, produces and markets polyethylene, advanced polyolefin materials, polyolefin catalysts and also develops and licenses polyolefin processes. With research and development centers in North America, Europe and the Asia-Pacific region, Basell is committed to developing with its customers a shared agenda for bringing new products to market as quickly as possible. Basell, including its joint ventures, serves customers in more than 120 countries with materials produced in 18 countries. The company's Internet address There are two kinds of addresses that are widely used on the Internet. One is a person's e-mail address, and the other is the address of a Web site, which is known as a URL. Following is an explanation of Internet e-mail addresses only. For more on URLs, see URL and Internet domain name. is www.basell.com. |
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