BASF sells Belgium, France fertilizer assets to Russia's EuroChem

27 September 2011 09:47  [Source: ICIS news]

SINGAPORE (ICIS)--German producer BASF said on Tuesday it will sell its fertilizer operations in Antwerp, Belgium, and in Ottmarsheim, France, to Russian producer EuroChem for around €700m ($946m).

BASF plans to complete the transactions by the end of the first quarter of 2012, the company said in a statement.

In Belgium, the assets to be sold include plants producing calcium ammonium nitrate/ammonium nitrate (CAN/AN) fertilizers, Nitrophoska fertilizers and nitrophosphoric acid, as well as three related nitric acid plants, BASF said.

In France, BASF’s 50% stake in Ottmarsheim-based PEC-Rhin, which produces CAN/AN fertilizers, as well as ammonia and nitric acid intermediates, will also be sold to EuroChem.

“The fertilizer activities [to be sold EuroChem] have a total annual capacity of approximately 2.5m tonnes of fertilizer and account for less than 1% of BASFgroup’s total sales,” the company said.

BASF said its fertilizer operations in Ludwigshafen, Germany, are not included in the divestment.

($1 = €0.74)

By: Nurluqman Suratman

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