CF Industries acquires Canadian Fertilizers Ltd.
CF Industries Holdings, Inc. announced that it has closed on the acquisition of all of the outstanding interests it did not already own in Canadian Fertilizers Limited (CFL) for total cash consideration of approximately $910 (Canadian) million. CFL owns the largest nitrogen fertilizer complex in Canada, located in Medicine Hat, Alberta.
This acquisition has increased CF Industries’ annual marketable nitrogen volume by approximately 425,000 gross tons of ammonia and 275,000 tons of urea. The Medicine Hat complex has two ammonia plants with total annual capacity of 1.25 million tons and a urea plant with annual capacity of 810,000 tons. Prior to the close of the transactions, CFL’s results were included in CF Industries’ financial statements as a consolidated variable interest entity.
CF Industries Holdings, Inc., headquartered in Deerfield, Ill., through its subsidiaries is a global leader in manufacturing and distribution of nitrogen and phosphate products, serving both agricultural and industrial customers. CF Industries operates world-class nitrogen manufacturing complexes in the central United States and Canada; conducts phosphate mining and manufacturing operations in central Florida; and distributes plant nutrients through a system of terminals, warehouses, and associated transportation equipment located primarily in the Midwest United States. The company also owns 50 percent interests in GrowHow UK Limited, a plant nutrient manufacturer in the United Kingdom; an ammonia facility in the Republic of Trinidad and Tobago; and Keytrade Ag, a global plant nutrient trading organization headquartered near Zurich, Switzerland.
- Ag markets posted a mixed showing before the long weekend
- Central American farmers generate energy from coffee wastewater
- Big potential in China for U.S. corn, livestock exports
- Outback Guidance introduces next generation auto steer systems
- Ag markets proved quite mixed again Friday morning
- Court ruling in Hawaii finds that crop protection is state law