Yara acquires remaining shares in Yara Nipro
Jan 10, 2011
Oslo (2011-01-10): Yara International ASA exercised a call option today and purchased the remaining 60% of shares in Yara Nipro Pty Ltd from the founders.
Yara Nipro is the market leader in bulk liquid fertilizers to many crops in Eastern Australia, and sales volumes have increased by 125% since Yara purchased a 40% ownership in January 2008. Yara Nipro represents a business which is complementary to the already strong position held by Yara within the horticultural segment in Australia, and Yara Nipro's operations will be integrated with those of Yara Australia.
Yara Nipro has concentrated on irrigated high productivity agriculture and high performance large scale farmers and in more recent years expanded operations into horticulture, wheat and sugar cane. With only about 3% of the fertilizer in Eastern Australia supplied by liquids, there is huge potential for further growth.
"Yara Nipro's unique liquid fertilizer concept makes it particularly attractive in regions of water scarcity like many parts of Australia. The innovative technology and business model fits well with Yara's aim to provide the best crop nutrition solution for the global challenges facing farmers today," says Head of Yara Downstream Egil Hogna.
Yara Nipro had in the financial year ending June 2010 a turnover of AUD 46 million and an EBITDA of AUD 5.6 million.
Torgeir Kvidal, Investor Relations
Telephone (+47) 24 15 72 95
Cellular (+47) 91 339 832
Asle Skredderberget, Media Relations
Cellular (+47) 41 44 36 10
Yara International ASA is the world's 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, we help provide food for a growing world population. Our industrial product portfolio includes environmental protection agents that prevent air pollution. Yara's global workforce of 7,600 employees represents the great diversity and knowledge that enables Yara to remain a leading performer in the industry.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)