Get involved in the discussion! Click here to comment on this story
Two leading Russian fertilizer producers, Uralkali (Berezniki) and Uralchem (Moscow) have agreed to acquire a controlling share in Fertilizantes Heringer (Sao Paulo, Brazil), now under bankruptcy protection. Fertilizantes Heringer, one of the largest fertilizer players in Brazil, said today that the two Russian firms would buy shares for 2 reais ($0.48) each in a deal that would result in a capital increase of up to $115 million.
The Russian firms signed a letter of intent on 21 September, and the deal is now subject to approvals, including by antitrust authorities. Signing of definitive documents is subject to negotiation of agreements and other documents on terms and conditions acceptable to both parties, Fertilizantes Heringer says.
Uralchem is a shareholder in Uralkali. Dmitry Mazepin, chairman of the board of directors of Uralchem, a producer of nitrogen and complex fertilizers, is also the deputy chairman of Uralkali, a major producer of potash fertilizers.
Earlier this year, Fertilizantes Heringer decided to close several of its plants and distribution centers as part of a restructuring plan to lower debt. The company, until then, operated 16 plants producing fertilizers from imported raw materials and one sulfuric acid plant.
By Natasha Alperowicz
Source: Chemical Week
LinkedIn Twitter FacebookTo improve sustainability, materials manufacturers are welcoming new digital technologies and process innovations into their global supply chains From palm oil to plastics, the global supply chains of […]
LinkedIn Twitter FacebookChemicals recycling technologies that would pave the way for petrochemicals to avoid crude oil as feedstock are still not sufficient to drag down overall demand in coming decades, […]
LinkedIn Twitter FacebookUS-based leading speciality chemicals firm Gabriel Performance Products has acquired a selected portfolio of alkyd resins from Deltech Resin. Terms of the transaction were not disclosed. The acquisition […]
