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BASF looking to sell its shares in PEC-Rhin

11 Nov 2008 - 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.