BASF/Shell PE joint venture Elenac gets EU approval

Following approval by the EU Commission, the planned BASF/Shell joint venture company can now be founded. It will operate under the name Elenac and will open for business on March 1, 1998.
The new company will have more than 2500 employees and, with sales of about DM 3 billion, will be one of the leading suppliers of PE in Europe. The production sites are in Germany (Wesseling near Cologne and Ludwigshafen), France (Fos, Berre and Notre Dame de Gravenchon) and Great Britain (Carrington). The company plans to have headquarters in Kehl and Strasbourg.
Chief Executive Officer and Chairman of the Board will be Rolf Richter, currently head of the Polyethylene Business Unit at BASF AG.
The other directors are: Henry Strick van Linschoten, responsible for finance and personnel; Gerhard Schunck, responsible for marketing and sales; Jo Vincken, responsible for production and technology.