BP Solvay Polyethylene North America Joint Venture Completed

    HOUSTON--Nov. 1, 2001--Solvay and BP yesterday concluded their transaction transferring BP's Engineering Polymers business to Solvay and Solvay's polypropylene (PP) business to BP, and creating a joint venture in high density polyethylene (HDPE).
    The US joint venture, BP Solvay Polyethylene North America, will be headquartered in Houston with production facilities located in Deer Park, Texas. "Solvay's strength in applications and customer satisfaction, combined with BP's position as a major olefins supplier, will make the new joint venture a formidable competitor and even better partner for our customers," said Foster Brown, president and CEO of BP Solvay Polyethylene North America.
    Solvay's new engineering polymers business, named Solvay Advanced Polymers, L.L.C., will be headquartered in Alpharetta, Ga., and have plant sites in Atlanta, Ga., Augusta, Ga., Marietta, Ohio, and Greenville, S.C. Solvay Advanced Polymers will combine the acquired Udel(R) and Radel(R) sulfone polymers, Amodel(R) PPA, Xydar(R) LCP and Torlon(R) PAI businesses with Solvay's Ixef(R) PAA and Primef(R) PPS product lines.
    "Our acquisition of BP's engineering polymers business represents a strategic repositioning for Solvay in the high-performance specialty polymers sector," explains Joe Greulich, president and CEO of Solvay Advanced Polymers. "The acquisition allows the Solvay Group to expand its portfolio of products and develop a leadership position, increasing by 50% the Solvay Group's sales in this specialty growth sector." These high-performance polymers are used in a wide range of demanding applications in the automotive, aerospace, industrial, medical and electronics industries worldwide.
    Solvay is an international chemicals and pharmaceuticals group with headquarters in Brussels, Belgium, employing about 32,000 people in 50 countries. In 2000 its consolidated sales amounted to EUR 8.9 billion generated by its four activity sectors: Pharmaceuticals, Chemicals, Plastics and Processing. Solvay is listed in the Euronext 100 index of top European companies. Details are available at www.solvay.com.