Agrium and PotashCorp will become Nutrien2 years ago -
Potash Corporation of Saskatchewan Inc. announced today that once the anticipated merger transaction closes, the new company will be named Nutrien.
A news release today from Agrium states the new organization will be the global leader in reliable, low-cost crop nutrient production, combined with the largest agricultural retail-distribution network in the world.
On Nov. 3, 2016, shareholders of Potash Corp. of Saskatchewan and Agrium Inc. voted overwhelmingly in favour of an all-stock merger. The companies say the deal should bring upwards of US$500 million in annual cost savings for the combined company with US$20.6 billion in expected net revenue.
The regulatory review and approval process for the merger transaction continues and the parties expect closure of the transaction to take place in the third quarter of 2017.
PotashCorp is the world’s largest crop nutrient company and plays an integral role in global food production. The company produces the three essential nutrients required to help farmers grow healthier, more abundant crops. With global population rising and diets improving in developing countries, these nutrients offer a responsible and practical solution to meeting the long-term demand for food. PotashCorp is the largest producer, by capacity, of potash and one of the largest producers of nitrogen and phosphate. While agriculture is its primary market, the company also produces products for animal nutrition and industrial uses. Common shares of Potash Corporation of Saskatchewan Inc. are listed on the Toronto Stock Exchange and the New York Stock Exchange.
Agrium Inc. is a major global producer and distributor of agricultural products, services and solutions. Agrium produces nitrogen, potash and phosphate fertilizers, with a combined wholesale nutrient capacity of approximately eleven million tonnes and with significant competitive advantages across our product lines. We supply key products and services directly to growers, including crop nutrients, crop protection, seed, as well as agronomic and application services, thereby helping growers to meet the ever growing global demand for food and fibre. Agrium retail-distribution has an unmatched network of approximately 1,500 facilities and over 3,300 crop consultants who provide advice and products to our grower customers to help them increase their yields and returns on hundreds of different crops. With a focus on sustainability, the company strives to improve the communities in which it operates through safety, education, environmental improvement and new technologies such as the development of precision agriculture and controlled release nutrient products. Agrium is focused on driving operational excellence across our businesses, pursuing value-enhancing growth opportunities and returning capital to shareholders. For more information visit: www.agrium.com