Issue Date: December 5, 2011
Borealis Wants Fertilizer Maker
Austrian petrochemical maker Borealis has offered to buy PEC-Rhin, a French producer of ammonia, ammonium nitrate, and nitric acid, from Total’s GPN subsidiary. PEC-Rhin had been a joint venture between BASF and GPN. However, after BASF’s agreement this fall to sell its fertilizer business to Russia’s EuroChem, GPN exercised its preemptive option to buy full control of PEC-Rhin. Borealis already makes nitrogen-based fertilizers in Austria and says the new business will permit expansion into France and Germany.
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