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Dato/tid 13.02.2018 16:30
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Tittel Yara and Arab Potash Company enter into MoU on potassium nitrate
Tekst


Oslo, 13 February 2018: Yara and Arab Potash Company have entered into a
Memorandum of Understanding to explore collaboration on potassium nitrate.

Yara and Arab Potash Company, the Jordan-based potash producer have recently
signed an MoU for mutual cooperation in the field of potassium nitrate
production and sales. The parties will explore and evaluate the possibility of
doubling the production capacity of KEMAPCO, the potassium nitrate producing
subsidiary of APC, and accordingly Yara is targeting a minority position (30%)
in Kemapco with a 100 % distribution and marketing agreement for Yara. Potassium
nitrate is a key product in solutions for fertigation, a fast growing segment
that Yara and Kemapco aim to develop further through this collaboration.

"With this MoU we are pleased to establish a collaboration of strategic value.
Our farmer centric approach means that we offer a full range of nutrients and
solutions to meet farmers needs in all climates and for all soils. Fertigation
is the combined application of water and nutrients to a crop, a mix of
fertilizer and irrigation in the same application. The collaboration with
Kemapco will facilitate exchange of technology and know-how, and secure access
to potassium nitrate that will strengthen our fertigation offering," said Terje
Knutsen, EVP Crop Nutrition, Yara.

Kemapco is a subsidiary of the Arab Potash Company, and operates a single
potassium nitrate plant in Aqaba, Jordan. Production in 2017 amounted to 130 kt
potassium nitrate, with sales amounting to about USD 105 million.

"The signing represents an important step in the plan to grow our business, we
believe that our high quality product will be a great fit for the growing
potassium nitrate demand. We are pleased to have the opportunity to grow our
business with Yara's extensive sales network." said Jamal Al-Sarayrah, Chairman
of the Board of Directors, Arab Potash Company.

Note: any final transaction will be conditional on the customary regulatory and
corporate approvals.


For further information, please contact:

Thor Giæver, SVP Investor Relations, Yara
Office: (+47) 24 15 72 95
Mobile: (+47) 48 07 53 56
E-mail: thor.giaver@yara.com

Esben Tuman, Vice President Corporate Communications
Mobile: (+47) 90 50 84 00
E-mail: esben.tuman@yara.com


About Yara
In collaboration with customers and partners, Yara grows knowledge to
responsibly feed the world and protect the planet, to fulfill its vision of a
collaborative society, a world without hunger and a planet respected.

Our crop nutrition solutions and precision farming offerings allow farmers to
increase yields and improve product quality while reducing environmental impact.
Our environmental and industrial solutions improve air quality and reduce
emissions, and are key ingredients in the production of a wide range of
products. We foster an open culture of diversity and inclusion that promotes the
safety and integrity of our employees, contractors, business partners, and
society at large.

Founded in 1905 to solve emerging famine in Europe, Yara has a worldwide
presence with more than 16,000 employees and operations in over 60 countries. In
2017, Yara reported revenues of USD 11.4 billion.
www.yara.com


About Arab Potash Company
The Arab Potash Company "APC" is the world's eighth largest producer of potash
and serves markets in Asia, Middle East, Europe, and Africa.

APC has a 100 year concession to the minerals rights of the Dead Sea which began
in 1958. The Company also has downstream investments in potassium nitrate,
bromine and other Dead Sea products. APC, your partner in food security.

Denne opplysningen er informasjonspliktig etter verdipapirhandelloven §5-12



 
    

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