On October 24 2007, during the opening of K2007, the world´s biggest trade fair for the plastics industry in Duesseldorf, the 'Myto' chair has been officially presented on the BASF booth in the presence of its creator, Konstantin Grcic, acclaimed industrial designer.

The chair made of easy-flow plastic Ultradur® High Speed has been developed with the Chemical Company BASF and is produced by Italian company Plank.
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I can't offer any reasoning (or don't have time to think about it) but
thats one of the ugliest chairs I've seen in a long time.