BASF Sells Fertilizer Business to EuroChem

Avatar for Posted by |3 April 2012

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.

“With the purchase of these facilities we are continuing our strategy to increase our share in the global fertilizer market both through organic growth and acquisitions,” said Dmitry Strezhnev, CEO of EuroChem. “I am looking forward to working with the highly experienced team in Antwerp.”

Source: BASF, Edited by Stefanie A. Toth, Online Editor

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