September 17, 2002 - South Korean fertiliser and speciality chemicals producer Namhae Chemical Corp has been officially split into two entities, a company spokesman told CNIon Tuesday.  Namhae has retained the fertilisers business while the base and fine chemicals business has been transferred to a new company - Human Chemical Sciences Co (Huchems).  Namhae, in its new form, and Huchems will be listed on the Korean Stock Exchange on 7 October.  Shareholders agreed last month to divide the company into two focussed entities in order to increase stock value. Namhae will retain 600 employees whilst transferring 230 staff members to Huchems. Namhae’s fertilisers business has been hit by poor markets, whereas its speciality chemicals business has been performing well. The fertiliser division currently accounts for about 70% of the company's total annual sales, while the chemical division accounts for the rest.  Namhae operates two lines of compound fertilisers at Yeochun, South Korea, with a combined production capacity of 1.3m tonne/year. It closed a 660 000 tonne/year urea plant and a 600 000 tonne/year ammonia plant in Yeochun this February.  Huchems will produce basic chemicals such as ammonia, sulphuric acid, phosphoric acid, carbon dioxide, gypsum, argon, and potassium chloride. Its fine chemicals include dinitrotoluene (DNT), mononitrotoluene (MNT), toluidine, melamine, ammonium nitrate and nitric acid.