Yara sells retail activity in South Africa
(Thomson Reuters ONE) -
Oslo (2010-05-18): Yara International ASA has agreed to sell its retail
marketing activity in South Africa at book value.
Yara has agreed to sell it fully owned fertilizer retail activity in South
Africa to Farmsecure and its 50% ownership in the South African retail company
Sidi Parani to its partner, the GWK coop.
The book value of Yara's retail activity in South Africa is approximately USD
100 million, mainly constituting operating capital.
Retail fertilizer marketing is typically combined with trade of other
agriculture input and produce, and is not defined as core business for Yara.
Yara's retail activity in South Africa has over the last years not given a
satisfactory profit.
Yara will continue to sell fertilizer delivered harbor in South Africa. While
Farmsecure will be Yara's exclusive distributor for a selected range of Yara
fertilizers, Yara will continue to supply urea and traded third party
fertilizers to other selected importers in the region in addition to Farmsecure.
Contact
Torgeir Kvidal, Investor Relations
Telephone (+47) 24 15 72 95
Cellular (+47) 91 339 832
E-mail torgeir.kvidal(at)yara.com
Asle Skredderberget, Media Relations
Cellular (+47) 41 44 36 10
E-mail asle.skredderberget(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 8000 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 acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1416173]
Unternehmensinformation / Kurzprofil:
Datum: 18.05.2010 - 08:01 Uhr
Sprache: Deutsch
News-ID 21040
Anzahl Zeichen: 0
contact information:
Town:
Oslo
Kategorie:
Business News
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"Yara sells retail activity in South Africa"
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