Final go-ahead for BASF-Shell polyethylene venture
15 Jan 2000
It's official, at long last. The European Commission has granted the all-clear to the link-up between BASF and Shell's polyethylene businesses. The venture, which will have annual sales of around DM3billion and some 2500 employees in three countries, will commence trading on 1 March.
The venture also has an official name. After months of using the cryptic code-name Marlene, the companies have decided to christen their new offspring Elenac. Unusually, it will have two headquarters offices, at Kehl and Strasbourg. Its chief executive is to be Rolf Richter, currently in charge of BASF's PE business unit.
Elenac's main production sites will be in Wesseling and Ludwigshafen, Germany; Fos, Berre and Notre Dame de Gravenchon, France; and Carrington, UK. To comply with EC rulings, the company will operate the Berre cracker jointly with Montell.
