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
The US State of New York is introducing two new bills to combat over-packaging, poor recycling rates and litter issues, including an Extended Producer Responsibility (EPR) program requiring companies such as McDonald’s and Amazon to pay for the cost of packaging disposal and recycling.
The new organization’s mission is to redesign the critical steps of the plastics sorting and recycling system for post-consumer lightweight packaging (LWP) to speed up circularity, born from a need to meet the rising market demand for high-quality recyclates for use in high-end plastic applications.
Starbucks and Hubbub have launched a £1 million (US$1.22 million) “Bring It Back Fund” to increase the uptake of reusable packaging in the F&B industry. The funding will go toward innovative ideas that make it easier for customers to use alternatives to single-use packaging by supporting pilot projects that help shift consumption habits.