SHELL, MONTEDISON TO FORM POLYOLEFINS JOINT VENTURE

Royal Dutch/Shell and Montedison SpA have tentatively agreed to create a $3.5 billion joint venture company to produce and market polyolefins. The two signed a memorandum of understanding earlier this month to create a 50-50 venture following a year of negotiations. The new company will be established in the next 6 months, incorporating most of Shell's polylefins operations and the operations of Montedison units Himont and Moplefan. Shell would commit ethylene and polypropylene operations

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