The President and CEO of Yara International, Svein Tore Holsether, said: “This acquisition marks the start of an exciting new phase in Brazil for Yara as the acquisition brings nitrogen production assets into our growing portfolio in Brazil, strengthening and growing our integrated position within both industrial and fertilizer.”
The Cubatão asset is a nitrogen and phosphate complex with an annual production capacity of approximately 200 kilotons of ammonia, 500 kilotons of nitrates and 700 kilotons of phosphate fertilizer. The complex employs approximately 1015 permanent employees, as well as 970 contracted employees.
According to the statement, the transaction has a value of US$255 million, with the operating capital value subject to post-closing adjustment.
Yara consolidated the acquired business effective 15 May 2018, including possible goodwill, and measured all identifiable assets acquired and liabilities assumed at their acquisition-date fair values.
Read the article online at: https://www.worldfertilizer.com/project-news/16052018/yara-closes-acquisition-of-fertilizer-complex-in-brazil/