BASF to sell fertilizer activities
BASF plans to sell major parts of its fertilizers activities. This comprises production plants in Antwerp, Belgium and BASF’s 50% share of the joint venture PEC-Rhin in Ottmarsheim, France.
- (1888PressRelease) March 02, 2011 - The activities have a total annual capacity of approximately 2.5 million metric tons of fertilizer and account for less than 1% of BASF Group’s total sales. BASF plans to complete the transaction by the first quarter of 2012.
In Antwerp, the scope includes plants for CAN/AN (calcium ammonium nitrate/ammonium nitrate) fertilizers, Nitrophoska® fertilizers and nitrophosphoric acid as well as three related nitric acid plants. In a first step, it is planned to carve out the activities into a 100% BASF subsidiary. About 330 employees will transfer to the new company and later to the future purchaser. BASF also plans to sell its shares in PEC-Rhin, which produces CAN/AN fertilizers and the respective intermediates, ammonia and nitric acid. The company is a 50-50 joint venture with GPN, a member of the French Total group, and currently has about 190 employees.
The plants in Ludwigshafen are not included in the carve out as they have an essential function for important value chains within the Verbund site.
“Our fertilizer activities are profitable, but do not belong to our strategic core business,” said Dr. Andreas Kreimeyer, member of the Board of Executive Directors of BASF SE, responsible for the Chemicals segment. “Our very skilled team and the highly competitive plants will have a sustainable future and will create additional value with a strategic purchaser whose core business is fertilizer.”
BASF’s fertilizer activities are mainly focused on Europe. In 2000, a distribution contract between BASF and K+S Nitrogen (formerly fertiva) for all fertilizers produced by BASF was signed.
About BASF
BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products and agricultural products to oil and gas. As a reliable partner BASF creates chemistry to help its customers in virtually all industries to be more successful. With its high-value products and intelligent solutions, BASF plays an important role in finding answers to global challenges such as climate protection, energy efficiency, nutrition and mobility. BASF posted sales of about €63.9 billion in 2010 and had approximately 109 ,000 employees as of the end of the year. 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 at www.basf.com or in its Social Media Newsroom at newsroom.basf.com.
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