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03-31-2008

BASF: UK Site Sold

BASF SE and Ineos Nitriles have reached an agreement for Ineos Nitriles to buy the Seal Sands site of BASF plc on Teesside, UK. The transaction is conditional on approval by the competition authorities. All BASF personnel will be transferred to Ineos Nitriles who will also take over existing contracts, supply and service arrangements.

The Seal Sands site produces chemical intermediates (AN, ADN, HMD) for the production of acrylic and PA fibers for clothing and carpets, as well as for ABS and PA fibers for the automotive, electric & electronics appliance industries. The HMD plant, however, is excluded from the transaction. Ineos Nitriles will operate this plant for BASF. The same applies for the ADN plant which will be shut down at the end of 2008.

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