About Yara

Hydro Agri announces demerger plans and a new name Yara

Nov. 28, 2003, is one of the most significant dates in the first century of the company's history: The announcement by Hydro to demerge the fertilizer business, at the time known as Hydro Agri.

It was also announced that Agri would be given a new name, Yara, at the time of the demerger in March 2004. This would help reinforce the company’s position as a dynamic new stand-alone operation.

The ‘turnaround’ of the 1990s had allowed the company to create global expansion, reduce costs, improve productivity and increase focus on core business. By 2002, Hydro Agri had achieved a position in the top quarter among its chemical industry peers and controlled a six percent share of the global mineral fertilizer business.

With one of the most extensive product portfolios in the industry, Hydro Agri was able to supply its expanding number of customers around the globe with an attractive range of products.

The successful implementation of the improvement programme paved the way for the demerger process and Thorleif Enger, who led Hydro Agri through this period, was chosen to take the new company forward.

When the demerger and stock listing took place in March 2004, the name of the company was changed to Yara.  The new name derives from the Old Norse jardar, which indicates a connection to the land, and the twelfth character in the rune alphabet (Jara), used to signify a good year with a good harvest.  The letter ‘Y’ was chosen to make it easier to pronounce in multiple languages and to echo ‘Yield’ – the core message of the business.

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