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Nutrien to buy Brazil liquid fertilizer producer

29 Jan 2018 16:48 GMT
Nutrien to buy Brazil liquid fertilizer producer

Houston, 29 January (Argus) — Canada-based fertilizer producer Nutrien will acquire Brazilian specialty fertilizer producer Agrichem this year, the company said today.

The acquisition will be completed in two stages after completing regulatory approval.

Nutrien will acquire 80pc of Agrichem within "the coming months," while the difference will be bought in 2019 based on this year's earnings, the company said.

Agrichem is a liquid NPK producer in Brazil, with an estimated production capacity of about 12mn liters/yr (12,000 t/yr). Its primary fertilizer plant is located in Ribeirao Preto, Sao Paulo, near key agriculture areas of the country.

Nutrien said the distribution network in Brazil between the two companies will help grow its existing fertilizer services, including its Loveland Products line and agricultural technologies.

Nutrien, which formed this month with the merger of Agrium and PotashCorp, operates 69 retail locations in Brazil, Argentina and Chile and owns 50pc of Argentinian nitrogen producer Profertil.