BASF Sells Fertilizer Business to EuroChem

james

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Ludwigshafen, Germany and Moscow, Russia ??EuroChem has successfully acquired BASF?s fertilizer business after approval from antitrust authorities.

The $1.1 billion purchase will lead to a pre-tax disposal gain for BASF of more than $800 million in the first quarter of 2012.

The scope of the transaction includes plants for CAN/AN fertilizers (calcium ammonium nitrate/ammonium nitrate),NPK fertilizers (nitrogen-phosphate-potassium) and nitrophosphoric acid as well as three related nitric acid plants. The activities were carved out into a separate company, now named EuroChem Antwerpen NV. About 330 employees have been transferred to EuroChem.

Read more at http://www.farmchemicalsinternational.com/news/aroundtheindustry/?storyid=3467
 
 
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