Ostara completes purchase of granulation facility
Published by Nicholas Woodroof,
The acquisition and recently announced financing completed by Ostara further accelerates the scale-up of Ostara’s production capacity of its Crystal Green® brand of sustainable, phosphorus-based, slow-release fertilizer products.
Oakley will also provide long-term, full-service terminal support for Ostara, including bulk storage, inbound and outbound logistics services via truck, rail and barge, and raw materials supply.
Ostara has completed the design and engineering work to upgrade the facility and has selected a general contractor, allowing for construction activities to be initiated immediately. Ostara anticipates production to commence approximately 12 months after the closing of the acquisition. Once fully optimised, Ostara expects that output from the facility will increase Ostara’s current aggregate production capacity by a multiple of approximately 10x.
“This acquisition is a major step in our plan to scale up the production of Crystal Green, allowing us to respond to growing demand with significant new capacity in a central location to our North American customer base,” said Dan Parmar, Ostara’s President and CEO. “We are also extremely pleased to partner with Bruce Oakley, Inc., an industry-leading logistics operator with world-class infrastructure, services and logistics to support us during this period of rapid growth for Ostara.”
“Oakley is excited to support Ostara, and Dan and his team have been a pleasure to work with. We are pleased to see the granulation plant repurposed ?to produce an environmentally friendly and agronomically beneficial fertilizer. Crystal Green is a fantastic ?slow-release ?phosphate product and we’re proud to play a?n important role in helping Ostara accelerate the growth of Crystal Green in the North American market,” said Justin Oakley, Vice President of Oakley.
Read the article online at: https://www.worldfertilizer.com/phosphates/23072021/ostara-completes-purchase-of-granulation-facility/
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