HELM AG takes over acetone sales from BP
London, UK and Hamburg, Germany
BP and HELM AG have signed an agreement on the marketing and sales of all BP's acetone with effect from 1st February 2005.
The transfer of BP's acetone business to HELM AG will ensure continuity of supplies to customers who will benefit from HELM's extensive logistics and its worldwide sales and marketing organisation.
The agreement follows BP's announcement on 30th November 2004 of a phased exit from its acetone and acids manufacturing operations at Saltend, Hull, and with it a phased withdrawal from its formic acid, propionic acid and acetone businesses.
"For HELM AG this is another important step in the expansion of our group to become a multifunctional marketing organisation for chemicals, and at the same time it is confirmation of the quality of our work to date," declares Rolf Meyer-Ottens, a member of the board of HELM AG.
BP's Murli Nathan, Acetyls Performance Unit Leader, said, "We believe this deal with HELM creates an opportunity for continuity of supply for acetone customers during and beyond the period of our withdrawal from this market."
This agreement is for BP's entire acetone output from Hull and is, for sales in Germany, subject to approval from the appropriate regulatory authorities.
Notes to editors
HELM AG is an international marketing partner for the chemical industry, with a group turnover of €3.9bn. Present in 30 countries with sales offices, subsidiaries and participating interests, HELM takes over sales and distribution of products for manufacturers, thereby saving them the costs and risks of a sales network of their own. Forty years experience of marketing solvents and a worldwide organisation give HELM a strong position on the market and guarantee comprehensive, customer-oriented supply arrangements.
HELM AG will use the next few weeks to discuss details of the agreements with the partners concerned.
BP's Aromatics and Acetyls business remains part of its Refining and Marketing arm. Acetyls is a global business with operations in Europe (Hull), USA, Korea, Malaysia, Taiwan and China. BP at Hull produces more than 1 million tonnes of acetic acid, acetic anhydride, ethyl acetate and vinyl acetate a year and is one of the largest sites of its kind in the world. Acetone production at Hull will cease in two phases at the end of April 2005 and late 2006/early 2007.
INTERNET INFORMATION:
BP: www.bp.com
HELM AG: www.helmag.com
PRESS INQUIRIES::
Your contact at BP:
Robert Wine
Tel. + 44 / 207 / 496 / 4827
Your contact at HELM AG:
Rolf R. Reichardt, Admin. / Public Relations Helm AG
Tel. + 49 / 40 / 2375 1820
e-mail: R.R.Reichardt@helmag.com