Crude Oil ( ) Brent Crude ( ) Natural Gas ( ) S&P 500 ( ) PHLX Oil ( )
 October 29, 2015 - 2:01 AM EDT
Print Email Article Font Down Font Up
Yara acquires Pilbara ammonia and nitrate assets from Apache Corporation

Oslo, 29 October 2015: Yara International has acquired 100% of the shares in Apache Fertilisers Pty Ltd, which holds Apache's 49% ownership position in Yara Pilbara Holdings Pty Ltd (YPHL), for USD 391 million.

YPHL owns 100% of the Yara Pilbara Fertilisers Pty Ltd (YPF). YPF in turn owns the Yara Pilbara ammonia plant, which has a production capacity of approximately 850,000 tonnes per annum. In 2014 the Yara Pilbara ammonia plant delivered an EBITDA of USD 218 million. The natural gas contract for the ammonia plant contains a price step-up effective mid-2016.

YPHL also owns 20.4% of Yara Pilbara Nitrates Pty Ltd (YPN). YPN is constructing a technical ammonium nitrate (TAN) plant with a production capacity of 330,000 tonnes per annum, with completion scheduled for early 2016.

"We are pleased to secure full ownership of the Pilbara ammonia plant, which is the largest and most modern ammonia plant in Yara's portfolio," said Svein Tore Holsether, President and CEO of Yara.

"The Pilbara assets are already operated by Yara, and therefore require limited efforts to fully integrate. The investment will also yield synergies within governance and tax structure," said Holsether.

The transaction has been signed and closed, and required approvals by relevant authorities have been obtained.


Thor Giæver, Investor Relations
Telephone: (+47) 24 15 72 95
Cellular: (+47) 93 42 69 54

Esben Tuman, Media Relations
Telephone: (+47) 24 15 70 26
Mobile: (+47) 90 50 84 00

About Yara
Yara's knowledge, products and solutions grow farmers', distributors' and industrial customers' businesses profitably and responsibly, while nurturing and protecting the earth's resources, food and environment.

Our fertilizers, crop nutrition programs and technologies increase yields, improve product quality and reduce the environmental impact of agricultural practices. Our industrial and environmental solutions improve air quality by reducing emissions from industry and transportation, and serve as key ingredients in the production of a wide range of goods. We foster a culture that promotes the safety of our employees, contractors and societies.

Founded in 1905 to solve emerging famine in Europe, today, Yara has a worldwide presence, with more than 12,000 employees and sales to more than 150 countries.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Yara International ASA via Globenewswire


Source: Thomson Reuters ONE (October 29, 2015 - 2:01 AM EDT)

News by QuoteMedia