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BASF to Sell Stake in French Fertilizer JV

4:21 AM MST | November 7, 2008 | Natasha Alperowicz

BASF says it intends to sell its 50% stake in PEC-Rhin (Ottmarsheim, France), a joint venture with Grande Paroisse, part of the Total group. PEC-Rhin is a producer of ammonia, nitric acid and fertilizers and had sales "in the low three-digit million euro range" last year, BASF says. The jv, founded in 1967, employed some 200 people last year. BASF says it is seeking to divest its share in PEC-Rhin because unlike BASF's fertilizers business in Ludwigshafen and Antwerp, PEC-Rhin's Ottmarsheim production facilities are not integrated with...

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