Effective 1 October, the Hoechst group (HQ: D-65926 Frankfurt) founded a new company to incorporate its orientated polypropylene (OPP) films business, in advance of its planned joint venture with Courtaulds plc, London (see Plasteurope.com No 15). Reflecting the trade name of its films, the new firm, in which Hoechst will hold more than two thirds of the shares, will be known as Hoechst-Trespaphan GmbH (PO Box 1143, D-66511 Neunkirchen). Dr. Andreas Grein and Rudolf Michel have been named co managing directors.

If cartel authorities approve, the joint venture, which will keep the name Hoechst-Trespaphan, is due to start up on 1 January 1996. A third md is to be appointed. The new company will have sales of just under DM 600m. Based on 1995 figures, Hoechst will contribute DM 350m, Courtaulds DM 230m. The portfolio will encompass OPP films produced by Hoechst at Neunkirchen, along with Courtaulds' OPP range, manufactured in the UK and France.