Yara acquires controlling stake in Burrup Holdings
(Thomson Reuters ONE) -
Oslo (2012-02-01): Yara today acquired 16% of Burrup Holdings Limited (BHL) for
USD 143 million, increasing its ownership share in the company to 51%.
Concurrently, Apache Energy has acquired the remaining 49% of the shares in BHL,
and signed a new shareholders' agreement with Yara.
"We are pleased to secure majority ownership in our Burrup activity and enter a
closer cooperation with Apache Energy, representing another important step in
Yara's strategic growth ambitions. Today marks the end of a challenging period
for what we have always regarded as a world-class asset, and we look forward to
integrating Burrup fully into Yara's global production system. Furthermore,
today's agreement allows us to intensify work on the planned technical ammonium
nitrate (TAN) project in the Burrup peninsula together with Apache", says
President and CEO Jørgen Ole Haslestad.
The wholly-owned BHL subsidiary, Burrup Fertilisers Pty Ltd (BFPL), operates an
ammonia plant completed in 2006 and located at the Burrup Peninsula in Western
Australia, with an annual production capability of approximately 850,000 metric
tons. BFPL entered into a revised long-term natural gas supply contract with
Apache Energy in November 2011.
The Burrup Nitrates project will now proceed with 75.5% Yara ownership and
24.5% Apache ownership, to construct a TAN plant with annual nameplate capacity
of 330,000 metric tons in close proximity to the existing Burrup ammonia plant.
The proposed TAN plant's close proximity to the Pilbara mining industry together
with adjacent ammonia supply gives it a distinct advantage over other ammonium
nitrate suppliers. Yara has an agreement to market the entire output from the
plant.
"We will re-name our Burrup activity to Yara Pilbara, marking a more active role
for Yara in the region as we move swiftly to establish Yara standards of
corporate governance. We now look forward to working with public and private
stakeholders to shape and strengthen the long-term future of the Pilbara
region", says President and CEO Jørgen Ole Haslestad.
Contact
Thor Giæver, Investor Relations
Telephone (+47) 24 15 72 95
Cellular (+47) 48 07 53 56
E-mailthor.giaver(at)yara.com
Esben Tuman, Media Relations
Cellular (+47) 90 50 84 00
E-mailesben.tuman(at)yara.com
Yara International ASA is the world's leading chemical company that converts
energy, natural minerals and nitrogen from the air into essential products for
farmers and industrial customers. As the number one global supplier of mineral
fertilizers, we help provide food for a growing world population. Our industrial
product portfolio includes environmental protection agents that prevent air
pollution. Yara's global workforce of 7,300 employees represents the great
diversity and knowledge that enables Yara to remain a leading performer in the
industry.
www.yara.com
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Yara International ASA via Thomson Reuters ONE
[HUG#1581424]
Unternehmensinformation / Kurzprofil:
Datum: 01.02.2012 - 07:00 Uhr
Sprache: Deutsch
News-ID 109728
Anzahl Zeichen: 3896
contact information:
Town:
Oslo
Kategorie:
Business News
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