BASF looking to sell its shares in PEC-Rhin
Ludwigshafen – BASF SE intends to sell its 50 percent holding in PEC-Rhin. PEC-Rhin is a 50-50 joint venture between BASF SE and GPN. The company produces ammonia, nitric acid and fertilizers in Ottmarsheim, France.
BASF’s fertilizer business currently comprises production activities in Ludwigshafen (Germany), Antwerp (Belgium) and Ottmarsheim (France).
In contrast to Ottmarsheim, the fertilizer activities in Ludwigshafen and Antwerp are based on Verbund integration with other value chains.
PEC-Rhin was founded in 1967. The joint venture has a workforce of about 200 employees and in 2007 generated sales in the low three-digit million Euro range.
BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from oil and gas to chemicals, plastics, performance products, agricultural products and fine chemicals. As a reliable partner BASF helps its customers in virtually all industries to be more successful. With its high-value products and intelligent solutions, BASF plays an important role in finding answers to global challenges such as climate protection, energy efficiency, nutrition and mobility. BASF has more than 95,000 employees and posted sales of almost €58 billion in 2007. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is available on the Internet at www.basf.com.
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