Yara Acquires German Company Specialized in Marine Air Pollution Reduction Technology
Jan 13, 2014
Oslo (2014-01-13): Yara strengthens its position in the area of Nitrogen Oxide (NOx) Emissions Control systems in a strategic move acquiring H+H Umwelt- und Industrietechnik GmbH, a leader in Marine Selective Catalytic Reduction (SCR) Technology. Through this acquisition, Yara continues to develop into a global Emission-to-Air abatement company, building a comprehensive portfolio of NOx reduction systems.
"I am glad to announce that we have signed the agreement with H+H. The H+H acquisition significantly increases our capacity in the emission to air reduction market, fitting well with Yara's strategic goals as our air pollution abatement solutions are a growing part of our business. These cost-effective solutions make good business sense for our customers, enabling them to comply with stricter legislative requirements while making a positive impact on their communities", says SVP and Head of Yara's Industrial segment Mr. Yves Bonte.
H+H Umwelt- und Industrietechnik GmbH designs and provides SCR exhaust gas treatment systems for the reduction of NOx emissions from marine engines and stationary land engines. Founded in 1998, H+H is based in Hargesheim, Germany and has over 1200 installed SCR units in activity around the world.
Strengthening Yara's NOx Reduction Solution Portfolio
H+H is the market leader in marine SCR technology, while Yara is the world leader in SNCR technology for stationary industrial plants. "There are clear synergies in bringing together technological know-how with Yara's expertise and scale in reagent production and supply, enabling Yara to provide customers with a complete portfolio of NOx reduction solutions. This acquisition represents a firm step towards becoming a global provider of environmental solutions, including NOx reduction for diesel vehicles, industrial plants and now ships," said Bonte.
For H+H Managing Partner Michael Heck, "the deal enables us to better serve existing customers. With Yara's expertise we can be even better positioned to help customers around the world achieve their environmental targets in a reliable and cost-effective manner."
A Cost-effective Solution to a Major Air Pollution Problem
NOx emissions result from the combustion of fossil fuels and are a major source of local air pollution in urban areas and ports. NOx causes acid rain, and reacts with volatile organic compounds (VOCs) to cause smog, causing respiratory diseases such as asthma and emphysema, and can aggravate heart disease and lead to premature death.
Yara creates global impact by offering solutions to tackle air pollution caused by nitrogen oxide emissions. Creating Impact is Yara's overarching business strategy, enabling the company to create value for its shareholders, the environment and society at large.
Thor Giæver, Investor Relations
Telephone (+47) 24 15 72 95
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Esben Tuman, Media Relations
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Yara delivers solutions for sustainable agriculture and the environment. Our fertilizers and crop nutrition programs help produce the food required for the growing world population. Our industrial products and solutions reduce emissions, improve air quality and support safe and efficient operations. Founded in Norway in 1905, Yara has a worldwide presence with sales to 150 countries. Safety is always our top priority.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.