{"id":1724,"date":"2022-07-07T13:01:13","date_gmt":"2022-07-07T11:01:13","guid":{"rendered":"https:\/\/basellorlen.pl\/?p=1724"},"modified":"2022-07-07T13:04:08","modified_gmt":"2022-07-07T11:04:08","slug":"bop-group-to-sell-low-density-polyethylene-business-and-assets-to-pkn-orlen","status":"publish","type":"post","link":"https:\/\/basellorlen.pl\/en\/news\/bop-group-to-sell-low-density-polyethylene-business-and-assets-to-pkn-orlen\/","title":{"rendered":"BOP GROUP TO SELL LOW-DENSITY POLYETHYLENE BUSINESS AND ASSETS TO PKN ORLEN"},"content":{"rendered":"<p>The BOP Group* today announced its intent to sell its business and assets related to the production and sale of low-density polyethylene (\u2018LDPE\u2019)to PKN ORLEN SA (PKN). On 06<sup>th<\/sup> July 2022, a Preliminary Sale and Purchase Agreement was signed between the BOP Group and BOP\u2019s shareholders PKN ORLEN and LyondellBasell Industries Holdings BV (LyondellBasell).\u00a0 The transaction is anticipated to be completed by the end of 2022 and is subject to customary completion conditions. Carving out this production-business unit from the BOP Group is in line with the strategies of its shareholders with respect to BOP, which refocuses the BOP Joint Venture in Poland on LyondellBasell proprietary and core <em>Spheripol<\/em> polypropylene and <em>Hostalen<\/em> high-density polyethylene technologies.<\/p>\n<p>\u201cWe are investing in petrochemicals as we realize their crucial role in ensuring the ORLEN Group\u2019s future, but also in strengthening Poland\u2019s economy. According to global forecasts, the value of the petrochemicals and base plastics market is expected to double by 2030. Our acquisition of a part of BOP assets and development of a plastic for which demand is steadily growing are set to entrench our position among Europe\u2019s leading petrochemical producers. The purchase of the business is tied in with the expansion of the olefins complex in P\u0142ock, launched last year. We intend to utilize its ethylene output in the production of polyethylene, thus extending the value chain. The extended petrochemical portfolio will support quick profit generation for the benefit of the Company and its shareholders. At the same time, as a shareholder of BOP Basell Orlen Polyolefins, we will continue to develop its remaining product portfolio,\u201d said Daniel Obajtek, CEO of PKN ORLEN.<\/p>\n<p>\u201cAfter analyzing the BOP Joint Venture strategy, we believe the best strategic option for the longer term is for the low-density polyethylene business in Poland to become part of PKN ORLEN\u2019s growth opportunities\u201d, said Richard Roudeix, Senior Vice President Olefins &amp; Polyolefins EMEAI. \u201cWe recognize the value of this asset and see this transaction as the best strategic fit for both parties moving forward.\u201d<\/p>\n<p>\u201cAfter finalizing the transaction, our priority will be to concentrate on our remaining business areas \u2013 we will focus on operational excellence for our world class assets, which are the <em>Spheripol <\/em>plant producing PP and the <em>Hostalen <\/em>plant producing HDPE, both licensed by LyondellBasell,\u201d said Laurent Hautier, President of the Management Board and CEO of BOP. \u201dThrough BOPS, we will also continue to develop the Polish polyolefin market, offering a wide portfolio of innovative PP and HDPE grades to converters in Poland, both from P\u0142ock and other LyondellBasell plants in Europe.\u201d<\/p>\n<p>*The BOP Group is constituted by Basell Orlen Polyolefins Sp. z o.o. (BOP) and Basell Orlen Polyolefins Sprzeda\u017c Sp. z o.o. (BOPS).<\/p>\n<p><em>Spheripol <\/em>and<em> Hostalen<\/em> are trademarks of LyondellBasell.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The BOP Group* today announced its intent to sell its business and assets related to the production and sale of low-density polyethylene (\u2018LDPE\u2019)to PKN ORLEN SA (PKN). On 06th July 2022, a Preliminary Sale and Purchase Agreement was signed between the BOP Group and BOP\u2019s shareholders PKN ORLEN and LyondellBasell Industries Holdings BV (LyondellBasell).\u00a0 The [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":1725,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-1724","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BOP GROUP TO SELL LOW-DENSITY POLYETHYLENE BUSINESS AND ASSETS TO PKN ORLEN - Basell Orlen Polyolefins<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/basellorlen.pl\/en\/news\/bop-group-to-sell-low-density-polyethylene-business-and-assets-to-pkn-orlen\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BOP GROUP TO SELL LOW-DENSITY POLYETHYLENE BUSINESS AND ASSETS TO PKN ORLEN - Basell Orlen Polyolefins\" \/>\n<meta property=\"og:description\" content=\"The BOP Group* today announced its intent to sell its business and assets related to the production and sale of low-density polyethylene (\u2018LDPE\u2019)to PKN ORLEN SA (PKN). 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