Yara expands downstream footprint in Africa
(Thomson Reuters ONE) -
Oslo, 4 December 2015: Yara International ASA has signed an agreement to acquire
Greenbelt Fertilizers, a leading distributor of fertilizers in Zambia, Malawi
and Mozambique for USD 51 million.
Zambia with its neighbouring countries make up a fast-growing agricultural
region with low but increasing fertilizer application rates, and Yara expect
continued fertilizer demand growth in the region.
Greenbelt started operations in Zambia in 2004 and has become a leading
fertilizer distributor in Zambia, Malawi and Mozambique, with sales of 80
kilotons and an EBITDA of USD 5 million in the fiscal year ending 31 March
2015. Greenbelt owns three blending plants and three warehouses. The transaction
value includes net working capital of USD 32 million.
"This acquisition re-confirms Yara's long-term commitment to Africa. Greenbelt
fits well with Yara and will further improve our downstream position within a
fast-growing agricultural region," said Terje Knutsen, Head of Downstream.
The transaction is expected to close in first quarter 2016, subject to
competition authority approval and other customary closing conditions.
Contact
Thor Giæver, Investor Relations
Telephone: (+47) 24 15 72 95
Cellular: (+47) 48 07 53 56
E-mail: thor.giaver(at)yara.com
Esben Tuman, Media Relations
Telephone: (+47) 24 15 70 26
Mobile: (+47) 90 50 84 00
Email: esben.tuman(at)yara.com
About Yara
Yara's knowledge, products and solutions grow farmers', distributors' and
industrial customers' businesses profitably and responsibly, while nurturing and
protecting the earth's resources, food and environment.
Our fertilizers, crop nutrition programs and technologies increase yields,
improve product quality and reduce the environmental impact of agricultural
practices. Our industrial and environmental solutions improve air quality by
reducing emissions from industry and transportation, and serve as key
ingredients in the production of a wide range of goods. We foster a culture that
promotes the safety of our employees, contractors and societies.
Founded in 1905 to solve emerging famine in Europe, today, Yara has a worldwide
presence, with more than 12,000 employees and sales to more than 150 countries.
www.yara.com
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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 GlobeNewswire
[HUG#1971313]
Unternehmensinformation / Kurzprofil:
Datum: 04.12.2015 - 08:01 Uhr
Sprache: Deutsch
News-ID 437596
Anzahl Zeichen: 3220
contact information:
Town:
Oslo
Kategorie:
Business News
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"Yara expands downstream footprint in Africa"
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Yara International ASA (Nachricht senden)
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