(BASF) -- 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. 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.
MRC