Sale of Yara Formates completed
Jan 25, 2006
As communicated in a press release on 10 October 2005, Yara has been negotiating a sale of Yara Formates to ADDCON Agrar. The negotiations have now been completed, and 100% of the shares in Yara Formates have been taken over by ADDCON Agrar. ADDCON Agrar has communicated the intent to continue the operational activities of Yara Formates without major changes.
The transaction results in a small book profit for Yara and will be accounted for in the first quarter of 2006.
Egil Hogna, Investor Relations
Telephone (+47) 24 15 71 66
Cellular (+47) 90 187 865
Torgeir Kvidal, CFO Industrial
Telefon (+47) 24 15 72 95
Mobil (+47) 91 339 832
Yara International ASA is the world's leading supplier of mineral fertilizers with particular strength in nitrogen-based fertilizers. Yara has a local presence in 50 countries worldwide. Yara sells more than 20 million tonnes of mineral fertilizers in more than 120 countries. Yara offers fertilizers meeting the nutrient needs of local crops supported by agronomic advice to make farming more profitable and agriculture more sustainable. Yara has a strong position in industrial markets in Europe as a supplier of nitrogen-based chemicals and is the leading supplier of liquid CO2.