Yara International ASA has acquired 50% of the Geneva-based trading company Balderton Fertilisers SA.
Yara International ASA has acquired 50% of the Geneva-based trading company Balderton Fertilisers SA. The acquisition will strengthen Yara's existing ammonia and fertilizer trade business and will support further growth through improved sourcing capabilities and new distribution channels.
Balderton is one of the leading fertilizer and ammonia trading companies in Europe trading approximately 1.8 million tonnes of various products in 2005. Balderton's strong positions in the Black Sea region, Mediterranean and Africa compliment Yara's positions in other parts of the world.
Going forward Yara will both purchase third party fertilizer products through Balderton and use Balderton as a complimentary sales channel for Yara's own produced products in markets where Yara today does not have a presence.
Commenting upon the transaction, Yara President and CEO Thorleif Enger said "after successfully having done business together for many years, both companies wanted a closer cooperation in order to support the continued profitable growth of both companies."
The parties have agreed not to disclose the purchase price at this stage.