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