BASF completed the sale of its fertilizer business in
Antwerp, Belgium, to EuroChem on March 31, 2012, as planned,
the company said this week.
The appropriate antitrust authorities have given their
approval for the transaction, BASF said.
The total purchase price amounts to around 830
million, including a deferred part of circa 130 million
payable over the period 2013 to 2016.
This transaction will lead to an expected pre-tax disposal
gain of approximately 600 million for BASF in the first
quarter of 2012, according to the company.
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 the new company, officials said.
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.
EuroChem is a strategic partner who will support and
further strengthen our Verbund concept of integration at our site in
Antwerp, said Dr. Andreas Kreimeyer, member of the board
of executive directors of BASF and responsible for the
My thanks go to our former employees who have done
excellent work over the past years.