Agrium Announces Sale of Conda Phosphate and North Bend Nitric Acid Operations

Agrium (TSX: AGU) (NYSE: AGU) announces that it has signed a definitive asset purchase agreement with Itafos, whereby Agrium will sell its Conda, Idaho, phosphate production facility and adjacent phosphate mineral rights for a sale price of approximately $100-million, including working capital.
Agrium has also entered into a definitive asset purchase agreement with Trammo Nitrogen Products, Inc., a wholly-owned subsidiary of Trammo Inc., whereby Agrium will sell its North Bend, Ohio Nitric Acid facility.
Agrium’s President & CEO, Chuck Magro said:

“The divestment of these assets will help pave the way for our merger with PotashCorp and the excellent line of sight to capture $500-million in annual synergies.
With Itafos operating the SPA business and Trammo operating the nitric acid business, farmers and industrial customers will be served across the U.S. for many years to come,” stated Agrium’s President & CEO, Chuck Magro.”

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