Oslo (2006-09-04): Yara International ASA has acquired 50% of the Geneva-based trading company Balderton Fertilisers SA. The acquisition will strengthen Yara's existing ammonia and fertilizer trade business and will support further growth through improved sourcing capabilities and new distribution channels.
Balderton is one of the leading fertilizer and ammonia trading companies in Europe trading approximately 1.8 million tonnes of various products in 2005. Balderton's strong positions in the Black Sea region, Mediterranean and Africa compliment Yara's positions in other parts of the world.
Going forward Yara will both purchase third party fertilizer products through Balderton and use Balderton as a complimentary sales channel for Yara's own produced products in markets where Yara today does not have a presence.
Commenting upon the transaction, Yara President and CEO Thorleif Enger said "after successfully having done business together for many years, both companies wanted a closer cooperation in order to support the continued profitable growth of both companies."
The parties have agreed not to disclose the purchase price at this stage.
Torgeir Kvidal, Investor Relations Telephone (+47) 24 15 72 95 Cellular (+47) 91 339 832 E-mail firstname.lastname@example.org
Hamed Brodersen, Media Relations Cellular (+47) 40 468 110 E-mail email@example.com
Yara International ASA is a leading chemical company that converts energy and nitrogen from the air into essential products for farmers and industrial customers. As the number one global supplier of mineral fertilizers and agronomic solutions, we help provide food for a growing world population. Our industrial product portfolio includes environmental protection agents that safeguard air and water purity and preserve food quality. Yara's global workforce of 6800 employees represents great diversity and talent enabling Yara to remain a leading performer in its industry. www.yara.com