Solvay to Sell Engineered Polymers Business to Basell - 2/1/2008

Solvay SA (Brussels, Belgium) has signed a stock purchase agreement under the terms of which it will sell to Basell Holdings BV (Hoofddorp, The Netherlands) its subsidiary, Solvay Engineered Polymers Inc., a supplier of polypropylene compounds. The transaction is expected to be completed early in 2008. Solvay

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Solvay SA (Brussels, Belgium) has signed a stock purchase agreement under the terms of which it will sell to Basell Holdings BV (Hoofddorp, The Netherlands) its subsidiary, Solvay Engineered Polymers Inc., a supplier of polypropylene compounds. The transaction is expected to be completed early in 2008.

Solvay Engineered Polymers Inc., which is essentially active in the North American Free Trade Agreement (NAFTA) region, has operations in Mansfield and Grand Prairie, Texas, as well as in Auburn Hills, Mich. The company also is represented in Europe and China through sales offices. The annual sales of SEP account for less than 2 percent of all revenue for the Solvay group.