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Friday, Oct 188:49 AMBASF, Yara consider joint U.S. ammonia plant
Friday, Oct 188:49 AM| 1 Comment
- German chemicals firm BASF (BASFY.PK) and Norwegian fertilizer maker Yara (YARIY.PK, YRAIF.PK) are evaluating a potential joint investment in a "world scale" ammonia plant at the U.S. Gulf coast.
- Yara, with its global ammonia network and market expertise, seeks to increase its presence in the U.S.; BASF, which has a strong U.S. presence, is currently a major user of ammonia for its U.S. downstream manufacturing activities and intends to further strengthen its backward integration.
- Other fertilizer producers such as CF, MOS and AGU could see interest today on the news.
Friday, Dec 72012, 6:36 AMBunge (BG) is selling its Brazilian fertilizer business, including 22 blending facilities, brands and warehouses, to Norway's Yara (YARIY.PK) for $750M in cash. Bunge will continue to supply farmers with fertilizer, but the deal will allow it to focus on its agribusiness ops. (PR) |Friday, Dec 72012, 6:36 AM| Comment!
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