Sector News

Russia’s Uralkali, Uralchem to buy Brazil’s Fertilizantes Heringer

September 26, 2019
Chemical Value Chain

Russian fertilizer and chemical companies Uralkali and Uralchem have agreed with Fertilizantes Heringer SA to become controlling shareholders in the Brazilian firm that is now under bankruptcy protection.

In a securities filing, Fertilizantes Heringer said the Russian companies would buy the Brazilian firm’s shares for 2 reais ($0.4796) each in a deal that would result in a capital increase of up to $110 million.

The Russian companies are already doing business in Brazil, one of the largest markets for fertilizers in the world, selling potash and nitrogen for companies who prepare and distribute formulations for farmers.

With Heringer, they will expand their presence in the country that is a leading global food producer.

Heringer used to be one of the 10 largest fertilizer companies in Brazil before launching a plan to restructure operations earlier this year, and then, filing for bankruptcy protection shortly after.

The company closed some installations, including plants and regional offices.

Uralkali is among the 10 largest players in the global fertilizer market. It is a large producer and exporter of potash, one of the three key components of the most popular formulations of fertilizers that also contain nitrogen and phosphorus.

Uralchem produces nitrogen and the company is a shareholder in Uralkali.

By Marcelo Teixeira

Source: Reuters

Join the discussion!

Your email address will not be published. Required fields are marked *

Related News

January 17, 2021

Neste and Avfuel join forces for U.S. sustainable fuel supply 

Chemical Value Chain

Neste will provide Avfuel with SAF in volumes able to meet the growing demands of Avfuel’s customers, including fixed base operators (FBOs), airports, flight departments, original equipment manufacturers (OEMs) and commercial operators.

January 17, 2021

Borealis and Tomra start up advanced recycling plant in Germany 

Chemical Value Chain

Operation of the plant is a joint enterprise between Borealis, TOMRA and Zimmermann. Borealis is responsible for the plant’s commercial success and contributes its expertise and knowledge in innovation, recycling and compounding.

January 17, 2021

Johnson Matthey appoints Stephen Oxley as Chief Financial Officer

Chemical Value Chain

Johnson Matthey announces that Stephen Oxley will join the company’s board on 1st April 2021 as Chief Financial Officer (CFO).

Send this to a friend