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

comments closed

Related News

November 28, 2021

Synthomer appoints new CFO

Chemical Value Chain

Synthomer announced the appointment of Lily Liu as Chief Financial Officer (CFO). Lily will take up the role no later than 1 July 2022, succeeding Steve Bennett who announced in August 2021 that he would step down once a suitable successor was in place.

November 28, 2021

Westlake to acquire Hexion’s epoxy business for $1.2 billion

Chemical Value Chain

Westlake Chemical (Houston, Texas) has reached agreement to acquire Hexion’s (Columbus, Ohio) epoxy business for approximately $1.2 billion. Westlake says the deal enhances chlorine and olefins integration and brings attractive opportunities in high-growth epoxy markets, including wind turbine blades, automotive lightweighting, aerospace and consumer coating applications.

November 28, 2021

Tetra Pak and Appetite Creative drive brand-consumer engagement with gamified carton experiences

Chemical Value Chain

Tetra Pak Iberia is launching a gamified app experience in partnership with digital studio Appetite Creative. The technology is enabled though scannable QR codes printed on drinking cartons and available to all brands in Southern Europe.

Send this to a friend