Printer Friendly

ARCADIAN PARTNERS, BP CHEMICALS INC. COMPLETE SALE OF NITROGEN BUSINESS

 CLEVELAND, May 11 /PRNewswire/ -- BP Chemicals Inc. today announced completion of the sale of its Nitrogen Chemicals business to Arcadian Partners L.P. for approximately $100 million. The two companies had signed a letter of intent on February 8.
 The sale includes production facilities in Lima, Ohio for agricultural and industrial chemicals, including ammonia, urea, nitric acid, and solution blending. BP Chemicals Inc. will continue to operate the plant on behalf of Arcadian under a three-year operating agreement.
 "The sale of our Nitrogen Chemicals business allows us to realize its value and concentrate on those chemical segments we believe are of more strategic value to BP over time," said Robert R. Mesel, president of BP Chemicals Inc. "Arcadian specializes in nitrogen fertilizer products and will be a key supplier to BP."
 The sale is not expected to affect BP's other Lima chemical or oil refining operations.
 In Lima, BP Chemicals Inc. will focus on its world class production facilities for acrylonitrile (AN) and co-products. AN is a raw material for fibers, plastics and synthetic rubber. BP is the world's largest acrylo producer and marketer, and the leader in acrylo technology.
 Arcadian Partners, L.P., based in Memphis, is a recognized leader in the manufacture, marketing and distribution of nitrogen fertilizer products.
 -0- 5/11/93
 /CONTACT: Tony Kozlowski of BP Chemicals Inc., 216-586-5577/


CO: BP Chemicals Inc. ST: Ohio IN: CHM SU:

BM -- CL024 -- 7074 05/11/93 12:44 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 11, 1993
Words:241
Previous Article:RESTAURANT OPERATIONS EXPERT SHARES MANAGEMENT SECRETS OF FIVE-YEAR OLD, $50 MILLION SUCCESS
Next Article:HAUSER ANNOUNCES PATENT APPROVAL ON ELECTRODEPOSITION OF SUPERCONDUCTOR ELEMENTS
Topics:


Related Articles
DOUG CAMPBELL NAMED NEW PRESIDENT AND CEO OF ARCADIAN CORPORATION
ARCADIAN PARTNERS ANNOUNCES 1992 FINANCIAL RESULTS
BP CHEMICALS INC. TO SELL NITROGEN BUSINESS TO ARCADIAN
ARCADIAN TO ACQUIRE BP CHEMICALS, INC. NITROGEN CHEMICAL BUSINESS
ARCADIAN TO EXPAND NITROGEN CAPACITY
ARCADIAN TO REALIGN EAST COAST PRODUCTION
ARCADIAN CORPORATION TO ADD AMMONIA PLANT IN TRINIDAD
ARCADIAN CORPORATION ANNOUNCES PROPOSAL TO ACQUIRE PREFERENCE UNITS OF ARCADIAN PARTNERS, L.P.
ARCADIAN ACQUIRES 50% INTEREST IN AMMONIA TERMINAL FACILITY ON THE HOUSTON SHIP CHANNEL
Potash Corporation of Saskatchewan Inc. To Acquire Arcadian Corporation

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters