Basell Polyolefins was a joint venture between

BASF BASF SE () is a German multinational chemical company and the largest chemical producer in the world. Its headquarters is located in Ludwigshafen, Germany. The BASF Group comprises subsidiaries and joint ventures in more than 80 countries ...

and

Royal Dutch Shell Shell plc is a British multinational oil and gas company headquartered in London, England. Shell is a public limited company with a primary listing on the London Stock Exchange (LSE) and secondary listings on Euronext Amsterdam and the New Yo ...

Leonard Blavatnik Sir Leonard Valentinovich Blavatnik, russian: Леонид Валентинович Блаватник, Leonid Valentinovich Blavatnik (born June 14, 1957) is a Ukraine-born American-British business magnate and philanthropist. As of March 202 ...

Access Industries Access Industries, Inc. is an American privately held multinational industrial group. It was founded in 1986 by businessman Leonard "Len" Blavatnik, who is also its chairman. Access's industrial focus is in four areas: natural resources and c ...

acquired it from the venturers for $5.7 billion in August 2005. In 2007, Basell merged with the privately owned US company Lyondell Chemical Company to form LyondellBasell, which went bankrupt in the US in January 2009 and emerged from bankruptcy in April 2010. Basell was the world's largest producer of

polypropylene Polypropylene (PP), also known as polypropene, is a thermoplastic polymer used in a wide variety of applications. It is produced via chain-growth polymerization from the monomer propylene. Polypropylene belongs to the group of polyolefins a ...

and advanced

polyolefins A polyolefin is a type of polymer with the general formula (CH2CHR)n where R is an alkyl group. They are usually derived from a small set of simple olefins (alkenes). Dominant in a commercial sense are polyethylene and polypropylene. More speciali ...

products, the world's largest producer of

polyethylene Polyethylene or polythene (abbreviated PE; IUPAC name polyethene or poly(methylene)) is the most commonly produced plastic. It is a polymer, primarily used for packaging ( plastic bags, plastic films, geomembranes and containers including b ...

, and a global leader in the development and licensing of polypropylene and polyethylene processes, and a leader in catalysts.

Company history

Basell's heritage comes from many companies, including

, Hercules, Himont, Hoechst, ICI, Montecatini, Montedison and

. However Basell, and then later LyondellBasell, had its origin in a joint venture between

and

. Spurred on by the work of Nobel Prize-winning scientists

Karl Ziegler Karl Waldemar Ziegler (26 November 1898 – 12 August 1973) was a German chemist who won the Nobel Prize in Chemistry in 1963, with Giulio Natta, for work on polymers. The Nobel Committee recognized his "excellent work on organometallic compound ...

and

Giulio Natta Giulio Natta (26 February 1903 – 2 May 1979) was an Italian chemical engineer and Nobel laureate. He won a Nobel Prize in Chemistry in 1963 with Karl Ziegler for work on high polymers. He also received a Lomonosov Gold Medal in 1969. Biograph ...

, these Basell predecessor companies were among the leaders of the polyolefin revolution that began in the late 1930s and 1950s. This transformation is still driving the petrochemicals industry today. In 2007, driven on by its then owners Access Industries and against the advice of Basell senior management, Basell acquired the privately owned US company Lyondell Chemical Company to form LyondellBasell, paying far above the market rate for the shares. The main winner was Access, who also held significant shares in Lyondell and was able to realise a massive profit by forcing Basell to overpay. This drove the new company rapidly to file for chapter 11 in the US in January 2009, from which it emerged in May 2010.

Chemical companies of the Netherlands Joint ventures BASF Former Shell plc subsidiaries Chemical companies of Germany {{Chemical-company-stub