BASF to sell share in JV PEC-Rhin to GPN
BASF has signed a contract to sell its 50%-share in PEC-Rhin in Ottmarsheim, France, to its joint venture partner GPN, a member of the French Total Group.
- (1888PressRelease) January 23, 2012 - PEC-Rhin produces CAN/AN (calcium ammonium nitrate/ammonium nitrate) fertilizers and the respective intermediates, ammonia and nitric acid. The company was established in 1966 and currently has about 180 employees.
The sale of BASF’s fertilizer activities in Antwerp, Belgium to EuroChem as announced in September 2011 is ongoing as planned, subject to approval by the appropriate antitrust authorities.
The total transaction value for both deals is expected to be approximately €700 million. BASF plans to complete the transactions by the end of the first quarter of 2012.
BASF’s fertilizer operations in Ludwigshafen are not included in the scope of the divestments.
BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. We combine economic success, social responsibility and environmental protection. Through science and innovation we enable our customers in almost all industries to meet the current and future needs of society. Our products and system solutions contribute to conserving resources, ensuring healthy food and nutrition and helping to improve the quality of life. We have summed up this contribution in our corporate purpose: We create chemistry for a sustainable future. BASF posted sales of about €63.9 billion in 2010 and had approximately 109,000employees as of the end of 2010. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is available on the Internet in the Social Media Newsroom at newsroom.basf.com.