Dow Chemical, Midland, MI, and Basell, Hoofddorp, the Netherlands, have reached an agreement on the sale of the Basell polypropylene plant in Cologne, Germany.Dow Chemical, Midland, MI, and Basell, Hoofddorp, the Netherlands, have reached an agreement on the sale of the Basell polypropylene polypropylene (pŏl'ēprō`pəlēn), plastic noted for its light weight, being less dense than water; it is a polymer of propylene. It resists moisture, oils, and solvents. plant in Cologne, Germany. Under the terms of the agreement, Dow will acquire the plant and associated business for an undisclosed sum. The modern manufacturing site, built in 1991, employs 71 people and can produce 195,000 tons of polypropylene each year. In order to resolve competition concerns raised by the European Commission European Commission, branch of the governing body of the European Union (EU) invested with executive and some legislative powers. Located in Brussels, Belgium, it was founded in 1967 when the three treaty organizations comprising what was then the European Community before the Basell merger was approved, Basell is required to divest To deprive or take away. Divest is usually used in reference to the relinquishment of authority, power, property, or title. If, for example, an individual is disinherited, he or she is divested of the right to inherit money. polypropylene resin plants with a capacity to produce at least 600 kt and PP compounding plants with a capacity to produce at least 130 kt. The sale of the Cologne plant helps to satisfy part of the divestment divestment to strip one's investment from an entity. requirements. |
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