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Yara announces plan to cease operations at Pardies plant in France

Mar 08, 2017
Oslo, 8 March 2017: Yara has today announced a plan to cease operations at its Pardies site in France.

"We regret to inform our employees and other stakeholders that we are considering closing the Yara Pardies plant and seeking buyers interested in taking over the plant. I would like to assure our employees that the cessation process will be handled in a respectful and professional way, and in accordance with the relevant union agreements," said Svein Tore Holsether, President and Chief Executive Officer of Yara.

"This process is part of our on-going efforts to strengthen Yara's long-term competitiveness, including in France which remains a key market for Yara, with more than 2.5 million tonnes of product delivered and EUR 73 million invested in 2016," said Holsether.

The Pardies operations suffer from limited scale, raw material integration and export competitiveness. The closure in 2010 of a nearby industrial operation deprived the Yara Pardies plant of many synergies that existed between the two plants, forcing Yara to close the ammonia production unit at the site. Yara has subsequently impaired the Pardies assets in both 2015 and 2016.

The Yara Pardies plant has 85 employees and an annual production capacity of approximately 100,000 tonnes of technical ammonium nitrate.


Contact

Thor Giæver, Investor Relations

Office:    (+47) 24 15 72 95
Cellular: (+47) 480 75 356
E-mail: thor.giaver@yara.com

Kristin Nordal, Head of External Communications
Cellular: (+47) 900 15 550
E-mail: kristin.nordal@yara.com


About Yara

Yara's knowledge, products and solutions grow farmers', distributors' and industrial customers' businesses profitably and responsibly, while protecting the earth's resources, food and environment.

Our fertilizers, crop nutrition programs and technologies increase yields, improve product quality and reduce the environmental impact of agricultural practices. Our industrial and environmental solutions improve air quality by reducing emissions from industry and transportation, and serve as key ingredients in the production of a wide range of goods. We foster a culture that promotes the safety of our employees, contractors and societies.

Founded in 1905 to solve emerging famine in Europe, today, Yara has a worldwide presence, with over 15,000 employees and sales to more than 150 countries.
www.yara.com


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