Belgian group SOLVAY has signed an agreement with the British oil company BP whereby it will transfer its polypropylene business to BP in exchange for BP's engineering polymers business. In addition, both partners will pool their separate European and American assets in two high density polyethylene joint ventures. The first, in Europe, will be equally held and the second, in the United States, will be controlled at 51% by SOLVAY. The global agreement covers activities whose total annual...