Issue Date: October 3, 2011
BASF Fertilizer Business Going To Russia’s EuroChem
BASF has agreed to sell most of its fertilizer business to Moscow-based EuroChem for about $950 million. The sale includes operations in Antwerp, Belgium, where BASF makes calcium ammonium nitrate/ammonium nitrate (CAN/AN) fertilizers, nitrophosphoric acid, and nitric acid. Also in Antwerp, BASF produces its Nitrophoska crop nutrient line, which is distributed by K+S Nitrogen. In addition, the deal includes BASF’s 50% stake in PEC-Rhin, a French joint venture with the oil giant Total that makes CAN/AN fertilizers. The operations have a total annual capacity of 2.5 million metric tons. BASF says it is keeping fertilizer operations at its Ludwigshafen, Germany, complex because they are important to site integration. EuroChem says its 3.4 million metric tons of preacquisition nutrient capacity make it the 10th-largest fertilizer maker in the world. The company adds that the BASF purchase is an important foray outside Russia.
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