(BASF) -- 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.
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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.
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The total transaction value for both deals is expected to be
approximately EUR700 million. BASF plans to complete the transactions by the end
of the first quarter of 2012.
mrcplast.com
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