Borealis acquired PEC-Rhin S.A. from GPN
Feb. 13, 2012
Borealis, a leading international provider of chemical and innovative plastics solutions and a major player in fertilizers in Central Europe, announces it has acquired PEC-Rhin S.A. (Ottmarsheim, France) in its entirety from GPN. GPN, a 100% subsidiary of Total, owned a 50% interest in PEC-Rhin and exercised its pre-emption right for the remaining 50% stake originally owned by BASF SE. This process has now been completed and approved by the relevant antitrust authorities. Pec-Rhin S.A. is a producer of nitrate fertilizers as well as ammonia, ammonia water and nitric acid for industrial use.
"We are happy to welcome our new colleagues in Ottmarsheim to the Borealis Group”, says Mark Garrett, Borealis Chief Executive. "Pec-Rhin with its assets on the border between France and Germany on the Rhine river is certainly most complementary to our current fertilizer business, which is mainly focused on the Danube-region."
Borealis will now investigate how to best integrate the new site and its activities without disrupting the current business and production processes. “With the fertilizer season coming up it is important the customers continue to be supplied without interruptions,” says Markku Korvenranta, Borealis Executive Vice President Base Chemicals. "LINZER AGRO TRADE, the Borealis fertilizer organization, will be the sole distributor of the products."
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