EuroChem acquires stake in Spanish liquid fertilizer business
Zug, Switzerland, 4 July 2017 – EuroChem Group AG (“EuroChem” or the “Group”), a leading global fertilizer company, today announces the acquisition of a minority interest (50%-1 share) in Hispalense de Liquidos (“Hispalense” or the ‘’Company”), a family-owned producer of liquid NPK blends located in the south of Spain. The price and other terms of the deal have not been disclosed.
The deal gives EuroChem access to additional production capability and technical know-how, which will enable the Group to expand the scope of its premium product offering.
Hispalense’s blending and storage unit is based in Seville with direct access to the city port. The facility has a production capacity of up to 1.5kt per day and current production levels are approximately 50kt/year of various liquid blends based mainly on UAN, phosphoric acid, MAP, urea and potash. Hispalense has storage capacity for up to 21kt of liquid and solid raw materials. The Company produces various customised formulas of fertilizer blends, selling the majority of them directly to local farmers.
Dmitry Strezhnev, EuroChem CEO, commented: “The acquisition of a stake in Hispalense, a well-established player in the Spanish fertilizer market, reflects our intention to expand our premium product portfolio. This is an interesting growth area for us and we see it has some exciting potential. The additional technical expertise will enable us to produce a new variety of such fertilizers and further support our customers with their efforts in sustainable farming.”
Juan Romero, Chairman of Hispalense de Liquidos, commented: “This is a win-win opportunity for us, giving us the ability to market some of EuroChem’s value-added fertilizers in Spain and to further promote our liquid fertilizer technology worldwide.”
About EuroChem Group AG
EuroChem is a leading global fertilizer company producing primarily nitrogen and phosphate fertilizers, as well as certain organic synthesis products and iron ore. The Group is vertically integrated with activities spanning from mining and hydrocarbons extraction to fertilizer production, logistics, and distribution. EuroChem is currently developing two sizeable potash deposits in Russia with its VolgaKaliy and Usolskiy Potash greenfield projects. Headquartered in Zug, Switzerland, the Group operates production facilities in Belgium, China, Kazakhstan, Lithuania, and Russia, supporting distribution assets in Europe, the CIS, Asia, and North and South America. EuroChem employs more than 25,000 people globally.
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EuroChem Group AG
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EuroChem Group AG