Highlights and actions 2013
Significant progress was made during 2013 in terms of both developing and delivering on Yara’s strategic objectives, including taking profitable and sustainable growth actions.
What we did in 2013
- Yara finalized the acquisition of Bunge’s fertilizer business in Brazil in August, and entered into an agreement to acquire OFD Holding Inc. in December.
- Yara commissioned two liquid CO2 tanker vessels in April, and entered into contracts for the construction and delivery of two mid-size LPG carriers in December.
- Yara entered agreements to acquire the water sensor company ZIM Plant Technology GmbH and the NOx abatement company H+H Umvelt- und Industrietechnik GmbH.
- Yara entered into a new collaborative agreement with Wilhelmsen Maritime Services in October, providing for a take-over of Yarwil’s NOx abatement technology.
- Yara initiated production of Air1 (DEF) at Yara Belle Plaine, Canada in June, after adding a new facility in Chesapeake, USA to the North American coast-to-coast network of DEF storage terminals.
- Yara awarded the Yara Prize for an African Green Revolution to Nnaemeka Ikegwuonu, CEO of the Smallholders Foundation in Nigeria, and Lindiwe Majele Sibanda, CEO of the Food, Agriculture and Natural Resources Policy Analysis Network, in September.
- Yara secured increased financial flexibility by signing a new USD 1,750 million dual-tranche Multi-currency Syndicated Revolving Credit Facility in July.
- Yara’s Annual General Meeting in May approved a dividend of NOK 13.00 per share and a new power of attorney to the Board authorizing acquisition of up to 5% of the company’s shares before the 2014 AGM.
What we do in 2014
- Yara delivers on its water scarcity innovation platform by integrating the water sensor technology of ZIM Plant Technology GmbH, after closing the acquisition in January.
- Yara strengthens its position in the market for Selective Catalytic Reduction (SCR) technology, integrating H+H Umvelt- und Industrietechnik GmbH, after acquiring the company in January.
- Yara enters into shipbuilding contracts for the construction and delivery of three handy-size semi-refrigerated LPG carriers in January.
- Yara’s new terminal in Porto Alegre, Brazil is expected to be operational in April.
- Yara and BASF continue evaluations of a possible joint investment in a world scale ammonia plant on the US Gulf Coast, entering discussions about exact location and capacity.
- Yara integrates the companies acquired from OFD Holding upon the conclusion of due diligence and necessary approvals, with closing expected by mid-2014.
- Yara’s expansion project in Porsgrunn, Norway continues along with the energy improvement project at JV Tringen 1, Trinidad, both scheduled for completion in 2014.
- Yara’s new fertilizer terminal in Dar es Salaam, Tanzania, connected to the Southern Agricultural Growth Corridor of Tanzania (SAGCOT) initiative, is due for completion in the latter part of 2014.
- The Yara Prize for an African Green Revolution is awarded in September, in connection with the African Green Revolution Forum in Addis Ababa, Ethiopia.
- Yara’s Supply Chain Project continues towards completion and implementation, optimizing processes and strengthening the company’s competitive edge.