European polyolefins giant Basell (Hoofddorp / The Netherlands; www.basell.com) is to acquire North America-based polypropylene compounds supplier Solvay Engineered Polymers (Mansfield, Texas / USA; www.solvayengineeredpolymers.com) subject to relevant regulatory approval. Terms of the transaction were not disclosed and the deal is expected to close in early 2008.

Basell advanced polyolefins president Paul Yeates said that the acquisition will complement the company’s existing polymer-based composite materials and alloys (PCMA) business in North America and that “by combining these businesses we will be better positioned to serve our customers in this region with products designed to meet their needs.”

Vincenzo Morici, general manager of Solvay’s speciality polymers strategic business unit at Solvay, said that the business had expanded its product and application range over the past ten years and that to join Basell now is the right way forward. The deal will provide the company with upstream integration into key raw materials and access to complementary technologies and market segments, he added.