Agrium acquires Equity Position in Chinese Specialty Fertilizer Company Hanfeng
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Agrium Inc. announced today that it has acquired a 19.6 percent equity position in a Chinese specialty fertilizer company, Hanfeng Evergreen Inc. for C$6.22 per share or US$63-million. In addition, Agrium has the opportunity to participate in a proposed joint venture between Hanfeng and PetroChina Ningxia Petrochemical Company (PetroChina). It is expected that this joint venture will build and operate Sulphur Coated Urea (SCU) plants in Ningxia and the surrounding provinces.