PetroFina and Montedison have agreed terms for the purchase by PetroFina of the Montedison group's interest in the polypropylene production joint venture Montefina SA located in Feluy, Belgium. The divestment was mandated by the European anti-trust authority in exchange for its approval of the Montell jv between Montedison and the Royal Dutch/Shell group. Montedison's interest in Montefina is held through Himont Inc and its subsidiaries. The agreement grants PetroFina as of March 1995 full control over Montefina and the immediate right to 100% of Montefina's production capacity, in exchange for supplying Himont with set quantities of polypropylene (homo- and copolymer) during a transitional period of two years. The agreement also gives PetroFina certain rights in the field of polypropylene technology, including the right to expand its production capacity in Belgium and in the United States using Spheripol technology.

Montefina has the largest PP production plant in Europe, with a total capacity of 380,000 t/y. It has two production lines, one of which has a 240,000 t/y capacity, the largest (single) line in the world. The purchase by PetroFina of the remaining 50% interest in Montefina and the start-up in La Porte (Texas) of a new 180,000 t/y production line announced for the end of 1995, will bring PetroFina's polypropylene capacity to 1m t/y, split between these three production sites. With the La Porte site becoming the largest polypropylene plant in the world, this will give Fina the second largest worldwide production capacity.