SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
for the period ended 09 October 2003
BP p.l.c.
(Translation of registrant's name into English)
1 ST JAMES'S SQUARE, LONDON, SW1Y 4PD, ENGLAND
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F |X| Form 40-F
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Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes No |X|
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October 9, 2003
BP AGREES TO SELL EUROPEAN SPECIAL PRODUCTS BUSINESS TO H&R WASAG AG
BP and H&R WASAG AG announced today that they have reached agreement in
principle for H&R WASAG to purchase BP's European Special Products business,
including the Neuhof base oil refinery in Hamburg, Germany.
Subject to a number of approvals and after appropriate employee consultation, H&
R WASAG will acquire BP's entire special products business in Europe which
produces and markets specialist products such as waxes, process oils and rubber
additives. This comprises the 5,000 barrels a day capacity specialist base oil
refinery at Neuhof and part of the associated blending facilities; two UK
manufacturing plants at Chorley, Lancashire and Tipton, West Midlands; a
manufacturing plant near Maastricht, the Netherlands; and marketing operations
in Spain, Portugal, Benelux, Germany, Eastern and Northern Europe and the UK.
In addition BP will supply H&R WASAG with 200,000 tonnes of special products a
year from the Coryton refinery in the UK.
The two parties said that they hoped to complete the transaction early next year
and that they did not anticipate any job losses as a result.
Notes to Editors:
- H&R WASAG is a speciality chemicals group listed on the Frankfurt stock
exchange. It is based in Salzbergen where it already operates a specialist
refinery producing 300,000 tonnes per annum
- The book value of the assets involved in the transaction is $30 million
- The deal does not include BP's shareholding in the Spanish Lubrisur joint
venture or the Neuhof North blending plant which will continue to be core to
BP's automotove, industrial and commercial lubricants business.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
BP p.l.c.
(Registrant)
Dated: 09 October 2003 /s/ D. J. PEARL
..............................
D. J. PEARL
Deputy Company Secretary