WILMINGTON, Del., Aug. 1 /PRNewswire/ -- Basell Canada Inc. has sold the assets and land located at its Sarnia, Ontario, site to Shell's Canadian affiliates, parent company LyondellBasell Industries announced today.
Included in the sale was the feed preparation unit, pipelines, propylene storage and all of the land at the site. The site also includes an isopropyl alcohol unit, which is currently owned by Shell.
LyondellBasell has carried out decommissioning activities at the 175 KT slurry polypropylene plant, which is also located on the site. Last year, the company announced that it would cease production at the plant because its operating costs were no longer competitive.
In May, LyondellBasell announced that it will stop producing polypropylene at its Morris, Ill., plant in the fourth quarter of 2008.
LyondellBasell currently operates three polypropylene lines in Pasadena, Texas, and two polypropylene lines in Lake Charles, La. All of these units use Spheripol process technology. LyondellBasell's joint venture Indelpro, located in Mexico, operates a Spheripol process line and is currently commissioning its new 350 KT Spherizone polypropylene plant at Altamira.
LyondellBasell Industries is one of the world's largest polymers, petrochemicals and fuels companies. We are the global leader in polyolefins technology, production and marketing; a pioneer in propylene oxide and derivatives; and a significant producer of fuels and refined products, including bio-fuels. Through research and development, LyondellBasell develops innovative materials and technologies that deliver exceptional customer value and products that improve quality of life for people around the world. Headquartered in The Netherlands, LyondellBasell (http://www.lyondellbasell.com/) is privately owned by Access Industries.
SOURCE: LyondellBasell Industries
CONTACT: Media, Mark Mendelson, +1-302-683-8141,
mark.mendelson@lyondellbasell.com, or Investor Relations, Doug Pike,
+1-713-309-7198, doug.pike@lyondellbasell.com, both of LyondellBasell
Industries
Web site: http://www.lyondellbasell.com/