This news article was originally written in Spanish. It has been automatically translated for your convenience. Reasonable efforts have been made to provide an accurate translation, however, no automated translation is perfect nor is it intended to replace a human translator. The original article in Spanish can be viewed at Basell venderá su participación en Polibrasil a Suzano Petroquímica

Basell will sell its participation in Polibrasil Suzano Petroquímica

29/06/2005

on June 29, 2005

Basell and Suzano Petroquímica reached a principle of agreement for the sale of the participation of Basell in the segment of polypropylene resins Polibrasil company Suzano Petroquímica. As part of the agreement, Basell will acquire the segment of compounding of polypropylene's Polibrasil, which has a production of polyolefins addressed primarily to the automotive industry.

Polibrasil operates three plants of polypropylene in Brazil, with a total capacity of 625,000 tonnes, and also has a plant of compounding of 25,000 tons. The closing of the transaction is pending the conclusion and signing of final contract, among other preconditions.

According to Ian Dunn, President of Basell International, "for us, Suzano has been for many years a very valuable partner with whom we have collaborated in joint ventures, and we predict a bright future within petrochemical Suzano to Polibrasil." "Brazil and South America remain important markets for Basell, and we will maintain our activity in the region, with our range of products, for the benefit of our customers."

For Armando Guedes Coelho, COO of Suzano Petroquímica, "the strong relationship between petrochemical Suzano, Basell and its shareholders, which has been built over many years with care and mutual respect, has been fundamental to bring to a conclusion this important transaction"", and will remain essential for the future development of both companies".