Sector News

Yara International to buy African fertilizer firm Greenbelt for $51 Mln

December 4, 2015
Chemical Value Chain

(RTTNews.com) – Norwegian fertilizer business Yara International ASA (YARIY.PK) Friday said it has signed an agreement to acquire Greenbelt Fertilizers, a distributor of fertilizers in Zambia, Malawi and Mozambique for $51 million.

The transaction value includes net working capital of $32 million.

The deal is expected to close in first quarter 2016, subject to competition authority approval and other customary closing conditions.

Yara said it expects continued fertilizer demand growth in Zambia with its neighbouring countries, which is a fast-growing agricultural region with low but increasing fertilizer application rates.

Greenbelt started operations in Zambia in 2004, and has sales of 80 kilotons and an EBITDA of $5 million in the fiscal year ending 31 March 2015. Greenbelt owns three blending plants and three warehouses.

comments closed

Related News

October 2, 2022

Trinseo announces potential closure of Boehlen, Germany Styrene Plant

Chemical Value Chain

Trinseo (NYSE: TSE), a specialty material solutions provider, announced it has initiated an information and consultation process with the Works Council of Trinseo Deutschland GmbH regarding the potential closure of its styrene monomer production site in Boehlen, Germany.

October 2, 2022

Celeste Mastin appointed H.B. Fuller President and CEO, succeeding Jim Owens upon his retirement

Chemical Value Chain

H.B. Fuller Company announced that Celeste Mastin, Executive Vice President and Chief Operating Officer, will succeed Jim Owens as H.B. Fuller’s President and Chief Executive Officer, effective December 4, 2022. Upon assuming the role, Mastin will also join the Company’s Board of Directors, replacing Owens, who will be retiring.

October 2, 2022

LyondellBasell realigns executive team, forms circular and low-carbon solutions business

Chemical Value Chain

New LyondellBasell CEO Peter Vanacker, who joined the company from Neste in May, today named his senior executive team and outlined organizational changes, including creation of a circular and low-carbon solutions business. All changes will be effective 1 October.