Coffee beans

Gateway to growth in the USA

Feb 20, 2008
"This is the first major investment in an import dry bulk facility by any company in Western US for 30 years, and a sign of Yara's future commitment to both the region and the USA," says Thorleif Enger, President and CEO of Yara International ASA.
 
Construction will begin as soon as all permits are in place, and completion is scheduled for the first quarter of 2009. The project will entail a total investment of USD 21 million.
 
"The US is an important growth market and we intend to build and maintain a modern and efficient operational platform that allows us to grow moving forward", says Head of Downstream, Edward Cavazuti.
 
One-stop-shop with global sourcing capabilities
The flagship terminal will provide a full assortment to customers, handling seven different types of key products simultaneously including NPKs, Calcium Nitrate and Urea. The new fertilizer warehouse will have a storage capacity of 80,000 tons, and be built close to an existing Yara facility for liquid fertilizer at the Port of Stockton. The deep-water terminal has a draft of 34 feet, allowing for shipment of 30,000 ton cargoes.
 
"There are a few ports on the West Coast that can efficiently handle dry bulk fertilizer. Stockton is ideal as a centrally located, inland port in one of the most important agricultural areas in North America. Our terminal, with its truck and rail capabilities will help connect not only California, but the Western States to the rest of the world", says Pete Valesares, President of Yara North America.
 
Proximity to one of the world's largest agricultural markets
The Stockton Gateway is an inland water terminal located in the heart of the Central Valley of California, core market for Yara's specialty plant nutrients. The Golden State, which on its own is the fifth largest agriculture in the world, grows approximately 250 crops and supplies close to 75% of all US cash crops.
 
The increased sourcing capabilities will not only help serve the state of California, they will also improve Yara's reach into the surrounding agricultural areas in Oregon, Washington, Idaho and southern Arizona.
 
"The improved level of supply of products will mean the facility will be able to load a truck in less than ten minutes - and this means efficient and improved delivery service to our customers" says Lou Astbury, Yara North America Western Vice President.
 
With sea, rail and truck access, the Stockton Gateway Terminal will generate projected cost savings of USD 2 million per year, thanks to lower ocean freight and bagging costs, plus improved operational efficiency.
 


 
Torgeir Kvidal, Investor Relations
Telephone  (+47) 24 15 72 95
Cellular (+47) 91 339 832
 
Hamed Brodersen, Media Relations
Cellular (+47) 40 468 110
 
 
Yara International ASA is a leading chemical company that converts energy, natural minerals and nitrogen from the air into essential products for farmers and industrial customers. As the number one global supplier of mineral fertilizers and agronomic solutions, we help provide food for a growing world population. Our industrial product portfolio includes environmental protection agents that safeguard air and water purity and preserve food quality. Yara's global workforce of more than 9,000 employees represents great diversity and talent enabling Yara to remain a leading performer in its industry.
www.yara.com
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